 Over to our mammoths to Steve Rhodes as we do each and every Monday at 20 past the hour and don't forget folks Steve has an outstanding show here every trading day one to two Eastern stand-to-time also a great newsletter a mastering probability Now it's very easy to get Steve's newsletter folks come over to our website at TFN You're gonna hit newsletters You're gonna see it right on the top row the right-hand side. You just hit subscribe You can get the newsletter for one month for a hundred and forty nine dollars You can get it for six months for 695 which is a savings of a hundred and ninety nine dollars at 22% And you can get it for one year for eleven ninety five Which is a savings of five hundred and ninety three dollars of thirty three percent now They all come with a 30-day money back guarantee So check it out as you get over there and you subscribe what you're gonna see folks is that Steve has a lot of great Archives on there, you know, you hear him talk about the TD counter and talk about The other Steve's the momentum indicator He has all of that right in his website once you get the newsletter You're gonna have all that information and really get to understand it So that you can basically be in and out of markets by yourself Steve Rhodes. Let's go on on Well, just probably like yourself just trying to avoid the heat if that's possible It's been extraordinarily hot down here. Exactly. No, it has there's no doubt and I look forward to my weekend time because it gets me out on the golf course, but And I've been playing and but I tell you I walk out that golf course. I am soaked as can be I bet you five pounds less at least And and I'm sucking down Gatorade and water, you know for that three and a half hour period So but I am looking forward to this weekend. Well, listen next next fall. Okay when you so at Bel Air, right? They so at Bel Air folks, they have two Donald Ross courses Well, they're doing one of them over right and so the way I guess it works a Donald Ross folks is a famous Golf or not. So they have these new designs that company of doing them over so they're putting eight million bucks in it So it's got to be ready in November. So you have to come over and we'll play golf up there That sounds great. Steve you should see the course. It's the same. I mean they got hills there I mean, it's on you're looking at it like you just can't believe it. It's kind of pretty cool Yeah, yeah, that's great. I like this week. I'm looking forward to because we've got the British Open Yes, championship So and what I like about that is because of it. I heard you talking about hey now is the time to go to Europe for sure, right? and But what I like about it is usually and I'm an early I'm an early riser and you know, usually in the gym by six in the morning or so and But so it's nice is typically you can watch that I wake up early Yeah, I could turn the TV on like six or seven in the morning, you know and watch the watch the British Open right in it Nice. Yeah, so yeah, let's talk a little bit about the market Yes, right now as I take a look at them the markets have generated several real mixed messages So for example If we take a look at the weekly charts for the Dow the S&P and the NDX 100 So these are the weekly charts. They mention one of the indicators that I use to identify a bottom This is the roads meant to indicator signal and it's a it's just a little black line that is drawn in now I don't draw that I've got this automated on the system works for all time frames and And then the way that that pattern gets that's a pattern that is tells us a market is stretched so the market was stretched on a weekly time frame and This this tool identifies that in the way that you get a confirmation of a bottom is we just get a bullish reversal candle in each Of those formed bull sash candles that confirm that pattern And so that tells us that we've got a bottom on the weekly time frame chart on an intermediate and these patterns on a weekly time frame Tom, they just don't form that often. However One of the other tools that I use are the task market profiles And if we take this for the S&P 500 this covers four time frames weekly in a left daily 240 in the 60 minute out there and we take it we were just talking about the weekly time frame chart It's still in pretty significant bearish territory And what I mean by that folks is the way that the market profiles work as they help us to identify Where buyers are where sellers are and if price can overcome sellers that would be above the top of a profile That would be bullish well in order to have the the syndicator on the weekly chart in the red zone tells us there's more More instruments trading below the bottom or the support level of those profiles So that says that this is going to be a rocky road And if we take a look at these other time frames out here the 60 minute wasn't a bearish crossover The daily is in a bullish crossover out there So in the way that a market would be truly bearish or truly bullish is all these dials would be in the same setting position They'd either be in the red position or the green or blue position out there And so we've got a mixed bag here if we take a look at the weekly market breath For the NDX 100 we have the same kind of signal out here You've got the weekly in the 60 minute that are in the red zone and the daily in the 240 are in the green zone out here So which is bullish. So we really have a significant set of messages that are pointing to Something So if I look at I talked about the the weekly time frames and how those inform bottom patterns If we look at the daily contracts here's the equity futures So at the ES the NQ the Dow and the Russell 2000 I have each of those confirming by the d-point patterns So the larger by the d-point patterns out there and on this chart here You can clearly see the blue lines represent the TAS market profiles So if we take a look at the ES mini it is trading above the top of its profile So it's basically on a daily basis in a bullish breakout type mode out here But if we look at the other three and you know now just one index is not going to be able to pull the others Although the NASDAQ is pretty strong If we take a look at the NASDAQ over on the right hand side where price found resistance was at the bottom of its profile Now folks when price closes below support Oftentimes that can become resistance and last week on friday. That is exactly what happened It got up to the 12197 level and gave it up if price can close above 12197 And we're talking about the NQ here Well, then we'd likely see a move up to 125 17 or 128 37 But the ES mini is the only one that is trading above resistance, which right now is support So the mixed messages they sort of make sense and point to really what is just simply a choppy market out here And this choppy market tom is likely to continue until october So how do I come up with october This is the 72 year 72 year chart for the s and p 500 and what i've selected here This is a uh was uh Provided to me by the folks at season x and it's a very cool tool Because what this allows me to do is allows me to take out uh and and see how has a market traded during a mid-term election year Versus just generally speaking and here what we can see this red line represents where we're at So if we take a look at this is the s and p 500 chart for a 72 year period It really kind of shows a choppy period and a choppy period until we get into the early part of october And then the market should take off to the upside If we look at the 36 year chart for the ndx 100 tells us a different picture This sort of tells us that we're going to rally the rest of this week And then we start to move lower out there, you know in kind of a significant way At least until the early part of august and if we take a look at the 125 year mid-term election chart for the dow This too is saying we should top uh late next week And then more chop and then finally in the late august time frame is when we get a swoosh to the downside So what in bear markets and all that makes sense you and I talked about this before yes, it does the 2000 Here's a 2007 bear market and I want to folks to look at these black arrows This is a weekly chart and the typical counter trend move is a two week rally two to three week rally Well last week was week number one And so this suggests that we should see a move higher this week You talked about the volume today And so we should see a higher close this week over last week close and then it might be curtains But expect a choppy market through october I love it and this is folks. Okay come over to our website at tfnn with the newsletters You hit newsletters master of probability is on the right hand side hit that baby hit subscribe Uh, yes, Steve. I see exactly. I mean I think I think we're gonna run for two weeks And then I know you know bottom line that that late august I like that number. I like that Cookin man. Have a great one. Have a safe one. Stay right there folks. Come right back