 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. Welcome to the August 14th, the wonderful Wednesday 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 one. Of course, the easiest way to do that is 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 gonna toss at us. Today, you and I, we're gonna go check on the circumstance of these markets. We're gonna go figure out what the bulls and the bears, what those buyers and sellers are communicating to you and I just past 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 60 minutes, I'm here to serve you. So feel free to pick up that phone. You can dial on in at 877-927-6648. If you can't dial in, we've got you covered. Just rifle off an email. Probably shouldn't say rifle off these days, but rifle off an email. Steve at tfn.com, inside the subject heading. Inside the subject heading, please put radio show question. Of course, in our Tigers Den, well, any ping will do. So let's go ahead and get this show started on wonderful Wednesday. Of course, this is Tiger Financial News Network. I'm Steve Rhodes. Welcome to LUS Show. We're going to take a look at the market. The market index is all in the red, meaning in the red. The Dow is off 725 points, the S&P 81, the Nasdaq, 102, 36. That's 3% to the downside. Spotball, Tilted, it's up 29%. That's up five bucks, 2258 is the print there. You know, the fire drill. And we are going to go ahead and put some water on this fire out here. Well, we're going to take a look at what the markets are really communicating to you and I. You've got gold up 19 buckaroonies out there, bonds up another one and nearly two points out here. If we wait long enough, it probably will be. Get up to the 165 level. Lead in the charge to the upside. That's not an ETF. Hard to find. In fact, I don't have one. Vanguard, extended duration. Treasury bills, it looks like. Out there, ED Visa took a symbol. To the downside, the individual stock wise, Amazon 65 bucks, booking holdings, 48, Google off 33, cost our group down 29. So some big movers and really shakers to the downside. Let's begin by taking a look at the markets here. And then we'll go to the questions that have come in. And by taking a look at the markets, let's first always like to step back and take a look at, well, where are we? What are we doing? Welcome to the world of the consolidation. Here's our monthly charts for the Dow, the S&P, the Nasdaq 100 and the Russell 2000. We are in a consolidation. And it's going to be like this. Well, I don't know when the consolidation will end. Probably doesn't end. Well, we know the date timeframe is for us to look at. We know that middle of October is one possibility. We know that the end of January is another possibility. Then you've got the end of June. And obviously I'm into 2020 out here. And then you've got the October timeframe. So those would be the time periods where you would likely see a bottom of the consolidation. It's not likely to be August the 14th out here. So we're in a consolidation. We know that. What do we know about today's trading action out here? Well, first, if we take a look at our TAS daily profiles, what we know that's going on right now and what we want to pay attention to for some type of signal, I would say would be the Russell 2000. So the Russell 2000 is right now testing the bottom of its daily profile. Now the structure of this profile is bearish. Let's step back for a moment. What do you mean bearish out here? Let me do this. Let me just simply turn off price because we're just simply going to look at the most recent box out here. The top of the box we're taking a look at is up at the 160350, the center 1557, the bottom 1465. So sellers should have, which they do right now, have had the power to push price down to test the bottom of that profile. We turn the price on out here and we can see that we're trading right at the bottom of the box. So with regard to the Russell 2000, this is where buyers are lined up. Whether or not they're going to be able to overcome the sellers, I don't know that. But if you were wondering, like it's now the time that you would step on the gas and take a short position in the Russell 2000, the answer, my friend, is absolutely, positively not. Of course you wouldn't do it at a potential support area, which is 1466, what we'll call it, 146590 out there. So price is at support. We don't have price at support in the NQ. That's way further down. That's down at the 7305 level out here. And with regard to daily profiles, the new profiles that form for the ES and the YM, they're above price. So we can't really look to those. That was a bearish when those profiles form. When you have profiles form above price, it's a bearish indication bullish when profiles form below price. So all we know right now is the Russell 2000 is testing a key level of support out there. Okay, what else do we know? Well, let's step back and just simply take a look at volume out here. Typically I leave this for the volume master, and that would be Obi-Wan Kenobi. But we need to take a look at it at 112 in the afternoon. Obviously our polar bear, he's going to look at it. He'll look at it through the lens of the power law vector indicator and what's going on with regard to the indices. But if we take a look at the ETF structure out here and we begin with the SPI, here's what we know. We know that price is trading inside its most recent swing point. That swing point is from August the 5th. That swing point had 179 million shares out there. We're rounding. You're at 60 million shares. We are more than 9-30, 10-30, 11-30, 12-30, 134-30. We're four, six and a half, so to speak. We're more than halfway into the trading session. This is light volume, mega light volume. Now when you are inside a swing point you never know if price is going to go test. And if it's with volume, you say you're going to go test the bottom, which is 281.72. If it's light volume, you can, but you're really not sure whether it will or it won't. But here's what we know. Don't have the type of selling that we saw on August the 5th out there. That says, prepare for a possible bounce. So you've got the Russell 2000 equity futures contract that support. The SPI is pulling back with much lighter volume. If we go take a look at the QQQQ series. Remember the NQ, we don't have a profile level. We know what the profile level is. It's quite a bit further to the downside. But here's what we also know about the Qs. The top of the swing point that they're testing is 183.51. It's still the same date out here. It's August the 5th. The volume there was 75 million. You're at 27 million right now. You want to talk about Giganto light volume out here. So those of you that are short, here's what Stevie's suggestion is. At least just looking at these few things out here. We are in a consolidating market. We are in a traders market. And tighten up those stops out there. The sphincter muscle is eventually going to get smaller and smaller out here. So if you see today, the Q is close above 183.51. Unless in 75 million shares, which right now that looks like a no brain or anything can happen. But it looks like a no brain right now. Talk about a rejection of a swing point as it did just a couple of days ago when we saw yesterday's rally out there. Now let's finish this off. Let's go take a look at the IWM. Let's see what it is doing on a daily basis. It's trading into really two different swing points. It's August 5th swing point, which had volume there of 39 million. You've done 16 today light volume, but you're below that. So price could be targeting. Now, if price closes above 146.21 today, 146.21, that would be a rejection of that swing point. And your light volume coming into the swing point all the way back from May 31st out there. Get back from this break. We'll continue looking at the market. Say it into your question. Let's see what you're thinking of. 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Call now toll free at 1-877-927-6648 internationally at 727-873-7618. Welcome back, folks. Douse off 709, SNP down 78. Let's go out to Philadelphia and speak with John. John, thanks for calling. Thanks for holding. How are you doing this afternoon? Steve, I'm doing very well. Thanks for taking the call, sir. Sure, my pleasure. Steve, thank you for answering a question on your show yesterday. I think I posed it in text form regarding the rally yesterday and your hope to be soon, Steve, patented Apigee Paragee Pivot Trading Tool. You gotta love that, don't you? Well, no one I know of, certainly myself mostly, had any idea that sellers would come out of the woodwork as they have thus far today. What is just incredibly clear, and I wish to repeat this for your listening audience, rallies that run up to your Paragee Apigee Pivots and stop our incredibly low-risk trade entries. And, of course, I took it yesterday and it's working out nicely. So I just encourage everybody to buy your work and get a hold of that pivot tool because it doesn't come into play every day, certainly, nor every week. However, it is a tool that's a must in anybody's arsenal. Well, thanks. I appreciate that. So yeah, so thank you for reviewing in real time what Price was doing relative to those numbers yesterday. Now that we've started to fall off, I ask you the following, with the pace of decline here today, why, I ask you this, is there any reason that you see in your work that says we shouldn't automatically, excuse me, that we should not quickly fall all the way down to the 2740 S&P area, which would mark an AB equals CD projection? Any reasons in your work why you don't think that will occur, please? Sure. So there would be a couple of those things. So today's market, one of the things that it's done, and let's take a look at the S&P 5, let's take a look at the Dow because the Dow here, I'm going to put up the daily chart for the Dow. And what we can see here, there's a black line that's been drawn on the Dow chart, my Dow chart, my daily Dow chart out here, from the August 5th low to the low of today, slightly lower low. And what this is potentially creating is a rose momentum indicator bottom signal. Now the last time that we had, so as good as perigee and apogee are, so too is this tool and this indicator. So we take a look at the last bottom, John, that formed out here on June 3rd. It was with that same pattern. Now it requires a bullish reversal candle. That's not going to happen today, but it could happen over the course of the next couple of days out here. So the Dow has that pattern that is in play. That does not mean that this pattern will identify a bottom. There's five very specific rules that must be followed for this, but the mere fact that it is present makes us say, hmm, something to think about. The ultimate support level, if this doesn't identify a bottom, is 24, 960, 282. That's where price broke out, but this is the Dow. And you're asking, is there anything I'm looking into my work to suggest that the market may not head down into, you gave a figure of about 2740 or so, which would be a monthly horizontal trading range as well. Also the New York Stock Exchange, John. So when I pull the New York Stock Exchange chart out, we'll see that it too is generating a rose momentum indicator bottom. Now the New York Stock Exchange topped with a rose momentum indicator top. It didn't happen until this bear sash candle formed. It looks like around the 27, 28, 29th of July out there. Let's not worry about the date. So we have those two things going for us. By the way, the ES mini right now is trading right at its daily horizontal trading range that has had 38 closes, opens or closes at the 2852 level, or 2850 right now. This is a real strong level of support. If this isn't it, it's the monthly horizontal trading range at 2836. So we're right up against some support levels out there. I don't know if they're going to hold just yet. We've got to go take a look at some intraday charts to try to get some signals. But we are at support and then we've got two charts out here that are showing those potential bottom signals. So then, John, I simply step over and I take a look at what's going on inside the spot volatility index. Well, we can see that it's up by 26.54. That's the very right-hand side of this chart out here. It shows the spot volatility index at 22.17. What you and I know is that when you have one day rates of change greater than 10%, that's what we have at the moment. What we typically see as a stall or a bounce or a bottom that forms inside of the S&P 500 out here. So what I wouldn't want people to do is to jump on the short train right now with all of these things in place out here. I'd rather them sell the perigee or there's going to be a new apogee pivot point in the next, I think, over the weekend. This weekend, sir, this weekend. Yeah, this weekend. So we'll have something else to use to guide us without here. But there's also that play that is in place right now. And then we take a look at the New York Stock Exchange. One of the ways that it forms its bottom. And this is a different tool than the one that we just looked at where price is moving lower with less relative energy. But here what we can see on a closing basis and in order for this to happen, the New York Stock Exchange would need to close below 12,497.31. We'll call it out there. And that says we've got a lower low right now than the date of August, the fifth out here. But if we go back and we take a look at the August fifth low of its advanced decline oscillator, it was a much lower low 223.09. Right now you're at minus 161. If you take a look at the New York Stock Exchange when it has formed other very viable bottom patterns, just the last four, those would be the red diagonals on my chart out here at the middle section. You can see that those were really viable, viable bottom type patterns and signals out there. Now, just because this pattern is present, we need something else to indicate to you and I that the so-called bottom is in. But your specific question, is there anything that I'm looking at that in essence would warrant caution that the markets may not fall all the way to the downside. And then, John, we kind of combine that stuff with Tom and David's work and taking a look at the volume analytics out here and understanding that the market is moving lower at this stage with lighter volume. So those would be the things that I'm looking at and then one other piece of information that I'll throw out here for you. And this way kind of helps Peter with his question of taking a look at several different things to understand what the market is doing. Peter inside our target stand out here is that I showed the larger consolidation when we opened up the show. There is a smaller consolidation in essence that seems to be going on utilizing Tom DeMark's setup trend lines out here, the breakout levels. We can see on the two-hour timeframe charts there's a key level of support in the ES mini, 2831.50. So I will say this, if everything I looked at is dead wrong, price must close the ES mini below 2831.50. But right now it's in bar number nine of that TD setup and markets can bottom, in this case here, on bars eight, well, that's out of the question, but bars nine are the bar following nine. And if we get that before this 2831.50 level out there, that says caution to the downside. And right now we can see the NQ well away from its breakout area, John, is 73.93, and the Dow testing its level of 25.527. So that's why I threw out there for you. If you want to digest that during this break and come back to me with some questions, you're welcome to do that as well. Thanks so much. One follow-up I will hold. Okay, perfect. We'll be back with John from Philadelphia as soon as we get back to business break. 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 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&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. 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The Art of Timing the Trade Chart 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 the 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 Chart 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, we're on the line with John in Philadelphia. We're taking a look at the S&P general markets for the most part And so John, the follow-up question that you had is Yes sir. Dovetailing rights with the last chart you showed which was the TD set up nine count for the two hour chart patterns on all the index futures you track Steve, as you know it was 33, 34 years ago that a pal of Tommy DeMarc a fellow by the name of Joey Generalis Joey taught me Tommy DeMarc's sequential system tool that was reasonably newly invented 33 years ago and I have used that as applied to daily, weekly, monthly charts ever since in looking for intermediate to long-term trend changes As a matter of fact just so your listeners know it might be of interest to them the S&P daily chart the S&P cash the C500 daily chart and weekly charts both gave confirmed Mark's sequential system cell signals here in the past six, seven weeks Yes Suggesting trend change at hand which is what I think we're dealing with but leaving that aside have you well, I notice with great irregularity during your shows you will display either 30 minute or hourly bar charts and the Tommy DeMarc the TD set up counts Yes My question you've aptly noted after nine count patterns TD set up nine count patterns slight reversals often occur what you've never, what I've never seen you comment upon the DeMarc system as applied to half hour and hourly charts have you noticed any tendencies for the combo signal or what Tommy also referred to as the sequential the sequential signals have you ever or have you developed any feel or not feel but experience as to whether sequential signals on those very shorter term charts are accurate and tradable Yeah, so it's been a while since I've applied those to the shorter term time frame charts out there but what I will do is between today and tomorrow show I'll generate some shorter term time frame charts and I'll put that tool on there and then we can look at that not that you have to call back in or anything but I'll do that on the shorter term time frame charts and you and I can look at it you had mentioned the TD combo count folks if you're watching us on Tiger TV those are referring to the red numbers on the system out there John or I are going to explain the entire strategy for you but you can buy books on this and read upon it but as John mentioned the S&P 500 generated the count signals out there and then it required to close below a certain bar out there which the S&P 500 did so that's truly in place out here and yesterday's bounce up was right into resistance DB's red line so I'll answer your question tomorrow with actual definitive charts that we can take a look at the nine count happens more often and so I like to use that and I especially like to use that because it helps me to and I think it helps others to identify and answer the question is this just a retracement what's the difference between a retracement and an actual change in trend and so where that setup helps us is to identify where price broke out versus going all the way back to what normal folks would use which would be a prior swing point out there and this is where it's really helped me substantially and I think the traders and investors in the listing listening environment as well because this two hour time frame chart is so helpful to us right now with regard to understanding the Dow Equity Futures contract and the ES mini and its counts and coming back to a level where price broke out likewise price ran right into resistance yesterday inside the ES mini and those are the green horizontal lines in the upper panel out here and so it's working well you keep working with the time frame until it stops working out there so let's take a look at what you would have asked about tomorrow or I'll let me ask you that Steve thanks so much for your help I appreciate it okay you bet thanks for calling Philadelphia and tomorrow we'll look at those TD sequential both TD sequential and combo counts on a short term time frames to the upside and to the downside out here so let's get to some questions that have come in as well make sure that we get to these the first one coming in from Ray C and Ray in Saratoga New York wants to take a look at the GDXJ specifically and what he specifically is asking for is the TAS profile levels out here so if we take a look at GDXJ right now the level that you're watching for in the daily time frame chart is $39.94 yesterday was a test of that level out there Ray or Raymond and and as long as that holds you don't have a change in trend you just have price pulling back to support the weekly profiles are well below where price is at $32.48 that's not going to help you and the weekly level of support because I believe that's what you were asking for the monthly I'm sorry so the weekly is well below price the monthly is well below price well that's at $30.92 out there with regard to so those are your levels for the GDXJ you say they seem to be going down faster than the price of gold well that's all going to be dependent upon the constituents that are in there I don't know what those are but now what I would say about the junior gold miners ETF is there's not a level of support that has been broken so thanks for writing in I hope that answers your question you've got further questions just please go ahead and and fire away and look folks with regard to to gold and to gold gold and silver the mining equities or what have you I just don't if you're if you're in from a lower base that's great I don't want you to be sucked into this vortex out here what I mean by that is if we take a look at gold we take a look at silver out here well first let's take a look at silver here's what silver hasn't done at this stage well first silver is trading right in the top of the daily profile level $17.26 we're at 17.22 so that's resistance out there we also have a new quarterly profile that formed and the top of that box is 18.40 so there's no breakout going on inside of silver yes there was a nice move out here but there's no breakout not like what we would see with regard to gold out here okay because if I put up the gold contract now the numbers are going to be slightly different perhaps and where price is actually trading because this is my synthetic version of the contract but I have to do this in order to get quarterly profiles and monthly profiles and so forth but here you can see prices above all of the resistance zones the top of the daily the weekly the monthly and the quarterly level out there so we can certainly look at gold and say hey look it's the breakout is valid but is it real why would Stevie say I don't want you to get sucked up into that cortex out here you've got to ask yourself the question you've got to ask yourself the question is there a real breakout out here without silver breaking out if you go back to the real breakouts in gold back in 2010 out here it really occurred when silver broke out as well and if you take a look at silver right now it has not broken out above it's July 2016 high at 2037 in fact it's created but underneath it do not get sucked into this cortex 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let's get to those here during this segment and so this one coming in from Perdue says I have a long position in EGO that's El Dorado Gold let's go ahead and get the charts up here for everyone EGO and that a cost of about okay I'm not going to reveal your cost that you've been holding for more than a couple of years I wonder if I should close out the position Well, here's what we know about El Dorado Gold right now. If you're asking me, would you close out the position today, I'd have to say, well, I don't have a, well, at least at this stage here, and looking at these charts, I don't have reasons to suggest that. You've got El Dorado Gold trading above its daily profile, that's 8.50 or at 8.76, it's well above its weekly, which is only at 4.86, and it's above its quarterly profile out there as well, 7.43, so since you've been in this for a while, and I understand you're really trying to recover some of your capital out here, I don't see that in taking a look at these charts out there. I don't see a failure of support out here, and you'd really want to see that. So a failure of support inside El Dorado Gold on as of today's date, which is August 14th, you'd need to see a close blow of 7.51, see how the bottom of these profiles out here per deep have held as support. So you at least need to see some type of change in trend signal, we don't see that here. But look at the daily timeframe, other set of charts to look for some type of reversal pattern. There is a road momentum indicator signal, and you did get the bearish and golfing candle yesterday, but that bearish and golfing candle didn't have any follow-through today. So it's kind of lackluster, and you like to see follow-through on any type of up move or down move out here, and certainly a bust of support, 7.51. So we've got to still stick with the, you need to see a break of support before you, before you would take that type of action. The weekly timeframe chart, I don't have a bottom signal, let's take a look at wave counts from the low out here, only in wave number four most likely, the other potential wave count would be two. So that's not generating anything for you on a weekly basis. So I don't have a signal out here per deep to suggest that you would go ahead and do just that. But that's what I see. You've got to do what is certainly right for you. So I hope that information helps out. Let's go to James. James writes in and says, hey, Steve, appreciate your show. Well, I appreciate your listening and answering our questions. That's what I'm here for. Do you think tomorrow will be another bad day in the markets? Okay, I have some cash I'd like to buy the S&P ETF and maybe Walmart and so forth. So do I think tomorrow will be another bad day in the market? What I really need to know James is what does the four o'clock close look like? And at 1.45, I don't know what that is. But you can just kind of go through the checklist in essence of things that we looked at earlier. Does a spot follow up till the next finish higher by more than plus 10%? Believe it or not, if the market backs off and we don't see some other type of bullish reversal out here and you've got less than 10%, well, then the market could continue to move lower tomorrow. I mean, it's just out the top of my head without looking at something else. It increases the odds of a bounce tomorrow out here. And I don't know if I'd want you to necessarily put cash to work it. You didn't say for what time period, but when you start talking about buying the S&P and the Walmart and so forth, I'm thinking you're not talking about like a day trade or intraday trade or something like that. And therefore I think you've got to wait for a while. If you're looking to put that longer term, those longer term funds together, remember it's always the middle of October that is the ideal timeframe. So I would just continue to build up your cash if it's more intermediate term type of timeframe out there. At least that's our call right now on Wednesday, August 14th at 1.46 in the afternoon. But right now this is suggesting this being the spot volatility index that we could see a bounce. We took a look at those volumes, take a look at the IWM. So far rejecting the swing point that was established on August 5th that had volume of 39 million or 17 million. So it's a test on light volume. Price is also traded back into the swing point on May 31st with light volume. Now that volume might be the same or similar, but if price rejects that level, meaning at the end of the day close above 1.4684, the weak link out here or one of the weak links will have said, I'm not ready to go down anymore. You know, if you can't bust them down or you're going to go bust them up, you got to know where the bust them up is to though. So that you've got the spy that we had talked about if we just kind of update the volume out here and the cues volume to spy 69 million versus substantially more than I think it was 176. And if you take a look at the QQQ series ETF, we don't do this often, but right now price is rejecting the August 5th swing point. That's at 18351, you're at 18362. And that's substantially lighter volume or 30 million versus 75. So those are all suggesting and answering James question, you know, I think tomorrow will be a bad day. At this stage here, that's not what the indication is. So I, you know, but I really need to see what the readings are at 4 p.m. versus what we're looking at at 2 p.m. And then of course you heard the conversation that John and Philly and I had and we were talking about this 120 minute timeframe chart. Now look, if we break below these, not break, but close below these levels out here, 28, 31, 50 in the ES mini 79, I'm sorry, 73, 93, 75 in the NQ and 25, 527 in the Dow. Well, then that says a real key level of support has been broken. And then Stevie's got to go take a look at other areas out here and other things that are going on inside the marketplace. So we're in a real traders marketplace. The last several days have been a, well, for the last two weeks, have been real proof of that out there. So that's my answer. That's my answer to your question. And then we've also got prices here, like in the ES mini, as we talked about price coming down to levels of support, the daily horizontal trading range, those are the blue numbers, 38 closes around 28, 53. We're 28, 58 right now, key level of support. And just below that is the 28, 36 area. You close below 28, 36, that opens up the Kimona down to the 27, 71 level out there. So I hope that answers my question for you. And I just summarized like this, at this stage at 149, everything that we're looking at is indicating that the market is going to not have a bad day tomorrow. But let's just, if you, subscribers will know this evening when I do my end of day reports exactly what's taking place as a four o'clock and what the message of the markets is at that stage. So thanks for writing in as always. Okay, no other questions. So let's see what we didn't really go through that we should take a look out here. And I don't know that it's much because it was, I really wanted to get that gold and silver now. Someone had said, Bruce said to Tiger's Den as we're going into the end of that session here when I was showing this chart that my Skype was breaking out. Cause we're, it's raining cats and dogs out my window out here right now in Delray Beach. We're getting a bunch of rain out there in any event. Okay. I was going to go someplace else. I'll just go there anyways, which is, which is great for the pool. It just means I don't have to fill it up as much. You know, I take a look at my backyard. Well, if you were to look at my backyard, you'll see that I'm the, where my backyard ends is three feet from the intercoastal. And, and I still have to fill up my pool. And there's no leak or anything. I've had leak detectors out here for the last, but it's like about every three days out there. You know, they talk about, you know, the, the ice is melting and eventually I'm going to, the house is going to be under water out here. Why does anybody ever talk about evaporation? I'm sitting right here in 500 yards in front of me is the ocean. There's evaporation that goes on all over the place out here. Anyways, shoot, back to the silver chart. Silver is telling us to be careful not get sucked into the gold vortex out here. The real breakouts occur when they're both breaking out and silver's not. 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. 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Stay tuned because coming up next is the power trading hour right here on TFNN. Welcome back folks. Quick check here. See if there's any other questions that have come in. Nothing that I see. So right now we've got the Dow. Dow's off 610, S&P off 68. NASDAQ off a couple hundred points. Let's just take a look at short term timeframe charts out here. Let's take a look at the 30 minute timeframe. You've got a, I don't have a bottoming pattern or signal out here, but you know, we took a look at those two hour time frames. We know at two o'clock we're going to get bar number nine. That's gonna form on that two hour timeframe chart forming bar number nine above support. The breakout level that is a, that's a bullish message. Now that bullish message turns into, that doesn't mean, it doesn't mean, well, let's go with what it, it can still be a lower low coming into four o'clock on the two hour timeframe. Cause the nine count can identify a bottom on bars eight, nine or the bar following nine. So two hour timeframe, the bar we were looking at here, I'll just pull over the right timeframe. By the way, I'm probably just screw everybody up here. So you can see that. And by the way, we don't have bar number nine counts in the NQ or the, or the Dow out here. So there can be a lower close coming into the four PM timeframe on the two hour chart for the ES mini and still generate that bottom signal. 2831 50 is going to be the key level. Now let's say that it starts earlier, what's going to be a signal that it's starting earlier and that we're just not seeing a little bit of an oversold relief here, you know, during the next hour. So well, you've got a new daily profile out here inside the ES mini and that says you'll be watching the level of 2870. If price were to close above 2870, it opens up the Kimona for 2907 where price on a 30 minute basis most recently broke down. So that's a level to be watching 2870. I'm not saying the ES mini is going to close above that. I don't have really a bottoming signal on a 30 minute timeframe. For the NQ out here, what do we know? It too has a bullish structured new profile, 30 minute profile. And here price would need to close above 7619. That'd be quite a rally out there. Just getting up to 7619 would be nothing more than a bit of a countertrend rally working off some of this oversold stuff. So there you go, folks. It's been a great hour. I've enjoyed it. I hope you've enjoyed it as well. Join me again tomorrow, 1 p.m. sharp. Well, really, I think it's about 106, 107, something like that. But stay tuned. Two hours or three hours of great programming. David White, your favorite polar bear. Tell him of Brian after that and I'll be back with you tomorrow. Take care.