 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 day from TFNN. Welcome to the June 21st, the fantastic Friday edition of today's Trader's Edge. 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. How about we have an extraordinary day, an extraordinary weekend and the easiest way to do that. 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 shift, it means we can find the gift in every set of circumstance that life is going to toss at us. 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 the buyers and the 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 more important than that. During this next hour, I'm here to serve you. So feel free to pick up that phone. That's right, you can dial it in. Phone lines are open, 877-927-6648. If you can't dial in, we've got you covered. Let those fingers do the walking. That's right, send me an email. Steve at tfn.com inside the subject heading, please put radio show question in in our Tigers Den. Well, any ping will do. So let's go ahead and get started on this fantastic, fabulous Friday. Of course, this is Tiger, Financial News Network. I'm Steve Rhodes. Welcome to LUS Show right now that out 43.267. 96 is the print. S&P is flat. The NASDAQ is flat. The Russell is down 10 points, nearly 7 tenths of a percent to the downside. Semi is up a little over half a percent or seven points. New York Stock Exchange down two tenths of a percent. Wilshire off about one tenth of a percent. Brenny's a slightly positive up eight points out there. Well, the NASDAQ Composite is up eight. Spot volatility index is totally flat out here. Gold's up two bucks. Silver off 21 pennies. And LightSuite crewed up 43 cents. Lead in the charge. The upside booking holdings up 12 bucks. Humana up eight. Google up six to the downside of $10. Double IPR, Innovative Industrial, something or other, off nearly 4 percent, 11 bucks, Innovative Industrial. Oh, that was, I just did that. Align technology jumping up front here. Down nearly 11 bucks or 4 percent. Beyond meat off 10 bucks to trade desk down 10. So, you know, we want to take a look at what you want to look at. The first question that came in was from Michael H. So Michael writes, hey Steve, hey Michael, regarding the XLE on a weekly chart. Well, first let's do this. Let's say you want to look at the XLE. So let's, I'll finish answering the question, but let me just populate this chart here. Where we'll have daily, weekly and monthly data to look at. Let's get rid of that A to B equal CD to the downside. So there's our clean chart. Let's finish reading on a weekly chart. Could today's candle end up being a bullish and golfing candle and also potential close above its weekly oscillator and change line. So let me put the XLE on my other charts as well. And you're specifically looking at a weekly timeframe here for the energy sector. So yes, the answer to your first question. Could this week be a bullish and golfing candle? The answer is yes. Let's go ahead and post this or expand this chart out. So here's the weekly timeframe chart. And what you see out here, Michael, is there was an established downtrend. So we have this established downtrend in a weekly basis. You had an inside bar here on June 3rd. That meant nothing. Price in essence was moving sideways last week. And this week you have wrapped the body of last week's candle. That gives you a bullish and golfing candle. So now let me go on to question number two. If so, okay. So we've got the if so. And if I want to go long, shall I wait for a pullback to the daily for an entry point and try to get in around 61 bucks. All right. So what we're looking for, that's a different question. And Michael's asking the question, is this a bottom? So if we look at the weekly chart out here, here's what we do know about the weekly chart. Number one, support is 59.77. It's a brand new profile, Michael, that formed this week. And resistance is 65.80. This is still in bearish configuration from a profile standpoint. What I mean by that, Michael, is if you take a look at where this profile form, the bottom of this week's box is below the prior box. And the top of this week's box is below the prior box. So trending wise, this would say a countertrend rally inside the XLE only take you up to 65.80, you're at 63.40. That will help you to do the risk reward analysis. With regard to the red line, I know you asked about that. Price right now is trading above that on the weekly basis, 62.08. So that is short term bullish or intermediate term bullish out here. So we know that, but you brought into, and there is no bottom pattern that I see out here on a weekly timeframe. So there's no bottom pattern other than potentially the retracement from the lows out here back in Brown December 2018 to the highs out here in April. Now let's go take a look at the daily timeframe because you referenced the daily timeframe. Let's go see, is there any bottoming signal here that has recently occurred to encourage Michael to maybe step in that trade? There would be potentially, let's go see if there was a completed A to B equal CD to the downside. There really wasn't much of a retracement, a 30% retracement. We'll go ahead and give it the benefit of the doubt. You did get that completion of the one to one A to B equal CD to the downside. You did get the bullish reversal signal. That's what that pattern needs. That took place on June 3. Now where are we in the wave count as an example from that low? So you're in wave number three and resistance here, Michael, inside the XLE on a daily timeframe is a Tommy DeMark set up trend line. That's established by the nine count pattern. In this case here, it's the high from May 22nd or I believe it's May 22nd. Sometimes this charting package is off by a day at the bottom when you're really looking at the correct day. But here I'm going to give you the price as soon as I can. You can see it stretched across my screen. It's $64.28. So the answer is no, I cannot recommend to you to take a long trade in the XLE. If it does pull back to $61.37, then your risk reward maybe comes through fruition out here. I see the resistance line being tagged more likely before you see Stevie's red line here tested. What else is it that I can share with you on the daily timeframe chart? Well, let's get off the weekly chart out here. Here's the daily timeframe chart. The bottom of it or the top of its box is at $60.42. Well above where price is, well below where price is trading right now. Michael, I've just got to go with the response that the time to have because it seems like you're pretty good. You're pretty up on these patterns that we're taking a look at. And so really your time, I would ask you the question, why didn't you buy the XLE since you were looking at it on June the 3rd when you had that bullish reversal signal and that A to B equals CD to the downside. Now that is a Gartley buy pattern. By the way, I believe that it is. Yeah, it's a Gartley buy pattern that had formed out here. And every Gartley pattern does have five potential outcomes. If we go explore those, Michael, let's take a look at what those would be. And those are going to be based upon the A to B equals CD pattern that we just looked at. I switched over to this chart just because the Fibonacci retracements are much easier to draw. So what this would tell you is outcome number one was achieved. That was 62.61. Outcome number two, 64.97. Let's pay attention to Stevie's or that Tommy DeMark set up trend line out there. But no, the answer is no. Now is not the time to enter a long trade in XLE. We'll be right back. The Taz Profile Scanner is the most revolutionary piece of trading software that you will ever try. Wouldn't you like to approach the markets with confidence? As you begin your trading day, it's likely that you'll be faced with lots of decisions. In order to make the best decision, the first thing you'll need is a strategy that will help you minimize your risks. 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Phil writes in, hey, Steve, hey, Phil, curious on your trend signals and Taz profiles on ticker symbol, GTS. That's Gates International Corporation. So a big reversal here on volume and taking some option as a pilot position and cheers, cheers to you. So let's go take a look at Gates Industrial out here. We've got the daily, the weekly, and the monthly. The monthly chart, we don't have enough data to generate profiles. Just hasn't been around long enough to generate those. What Phil is looking at, if you take a look at today's candle, you've got a bullish reversal signal. You've got a key reversal signal. This is after an extended decline to the downside, as you can see. So what this chart would communicate to Phil with the Taz market profiles being above where price is at is that old support, which really never acted as support, should be resistance, which would be $11.55. So what this tells you, Phil, is that one price target is $11.55. If price can get inside $11.55, close above, really, I'd say $11.66, then that suggests a run up to the $11.97 area. Now, depending on how this closes this week, you could end up with a weekly hammer candle. That weekly hammer candle, just telling you the price is trying to hammer out a bottom. But there's no A to B equals, there's no pattern that I see here, at least on this chart, you see clearly the A to B equals CD. Well, I won't say clearly. My eyes say that it's much lower than where price is trading right now. Yeah. So that would take you down about $9.51. We never got down there. So that pattern doesn't exist. And on the weekly, as we mentioned, I'm sorry, in the monthly, there is no set of profiles. Let's pull over the other daily timeframe because Phil is in this position. And what we need to share with Phil is that even though there's a bottoming pattern out there today, which is the Rhodes momentum indicator bottom with that key reversal bull sash pattern, is that price is may run into the last time that this broke down, it began on June 7th, Phil. And that says that that price point of $1,159 seems like we talked about $1,150 when we looked at some of the profiles. $1,159 here is your significant, is your breakdown area. Price may just do a countertrend rally up to there. Now, what happens if price closes above that level? Well, a couple of things. A close above $1,159 would say that there is a change in trend that is underway. Now, that change in trend would then target the next area where this equity broke down. That takes you back on a daily timeframe to around May 17th. And the high out there would be $1,314. So that's what my systems say at the moment. I like the trade. Just simply be aware of where PS day resistance is. Hey, let's go out to Philly and speak with John. John, thanks for calling. Thanks for holding. How are you today? Steve, I'm very good. Thanks for taking the call. My pleasure. So do we catch you on the East Coast or the Midwest today? Yeah, no, I cannot give you any up close and personal report about that refinery fire. I don't happen to be nearby. Well, I'll say good for that. That way you're not sucking in a lot of bad fumes or something. Yes, yes. Steve, I wanted to revisit the topic we talked about three or four years ago. It was back on that week of May 27th, right after Memorial Day, discussing the prospects for a silver rally. And that was back when it was under 1435. And thankfully we identified something that has rallied. So I want to revisit that and ask the direct question, can you see the setup where this rally really grabs hold and extends much further and faster than it has already? That's the question. And before I listen to you, I just wanted to share with you something that I find intriguing. And it is a similarity between what has gone on here this week and three years ago in 2016. This week, of course, is the third week of June. Three years ago, the third week of June was the week in which there was the vote in the United Kingdom for Brexit, which went the way it did. And in response, as that vote came in, the price of gold exploded high. And silver followed, but kind of weekly so. That was the third week. As I mentioned, gold exploded then, just like gold has exploded this week, the third week of June, three years hence. And silver has lagged. It's rallied, but it's lagged. Silver lagged that rally phase that third week of June three years ago. The fourth week of June, three years ago, silver embarked upon what I'll call a catch-up rally where it rallied dramatically harder than gold. The percentage to move that fourth week of June back then was extraordinary, vis-a-vis gold. And what I can share with you, I'm always watchful of the calendar on Comex. Next week is two events for Comex Silver. One, Options X-Bree for silver button call options. That is, in fact, Tuesday. And then first notice day for delivery of physical bulging against Comex contracts. That is the end of next week. And for whatever reason, it is a very typical pattern in which silver doesn't rally much going into those. But if it's in a strong both trend, the lid to the teapot, if you will, can be taken off. So I can, I'm wondering to myself and wondering just out loud, could next week, especially later in the week, be the set up for an explosive rally extension in silver? That's what I'm asking. I wanted to ask your thoughts, please. So let's do this. Let's just kind of take it by the numbers because I don't have a crystal ball, so to speak, and certainly anything can happen. But what we do have is we do have sets of numbers here to help us identify what silver has done that makes sense and what is it likely to do. And what I mean by that, folks, is let's just do this, John. Let me pull over this weekly timeframe chart. And it's a weekly timeframe chart that's up on the screen right now with its horizontal trading ranges. Let me first explain that. That shows that silver on a weekly basis has closed at the 1644 level, 55 different times during the timeframe span that is on my chart. That takes us back into 2009 into October of 2009. So let me just pull this out. And silver also, the next largest area of closes really would be 1477 out here. And that's where silver this week found a bottom. Now, what silver is doing, it's bouncing up to a midpoint. So the midpoint in between those two levels, the midpoint in between 1477 and 1644 takes us to 1561. This is a weekly chart we're looking at. That's an area where price can turn down and thus far it has. I want to stick with the daily timeframe, I'm sorry, the weekly timeframe chart and come over here and take a look at my other chart. I see we're going to break out here in about 20 seconds. But folks, here just take a look at the patterns that you and I use to identify tops and bottoms. You've got your TD set up nine count. That was the week of February of 2019. Price then pulls back to where the support level established by that nine count. That's what it did on May 31st. We get back from this break. We'll go tell you where resistance is using the same set of tools. We'll be right back. 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. 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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're on the line with John and Philly. We're taking a look at Silver, and I specifically was on the weekly timeframe. And on the weekly timeframe chart, the tools that you and I use to help us identify tops and bottoms, support and resistance, in addition to market profiles and so forth. But on this chart here, what we can see is that Silver topped, again, back here in February of 2019, it does it with that Tommy DeMark set-up nine count, identifies the top perfectly, and then price pulls back to where Silver had broken out. That was the beginning of that nine count. That took place on December, the week of December 7th. That looks like 2018 out there, and that low was $1434. And that's the price that was tagged and held as support back at the end of May. So what this would say to me, John, if you're going to ask me, where is it likely that Silver, on a weekly basis, is trying to get up to, it's going to be the resistance level. Just a support held down here that we're looking at, resistance may hold. And that price point is $1596. If, in fact, you get a close above $1596 in Silver, then from a weekly standpoint, you're going to get two things. You're likely to get an A to B equal CD to the upside, which is going to run right into resistance at its secondary TD setup resistance line right in the 1660 area out there. So that's what I see when I take a look at it. When I come over and I look at the daily time frame chart, here's the daily time frame chart for the current contract. If, in fact, Silver today, by day's end, and I don't know that it's going to do this, I'm not saying it's going to do this, but if it did get down below $1512, that was yesterday's low, you'd have a key reversal session. That would be a bearish reversal signal after the completion of the one to one A to B equal CD, and that would say price would pull back. You don't have a bearish reversal candle right now, John. So we don't have to worry about that. But when I take a look at the profiles out here, there's nothing to really suggest, there's nothing bearish about the profiles, prices above the daily, prices above the weekly, and this would say that Silver may want to go up to the next level, which would be $1575. So going back to do the correlation as you were, and I see that you lost the phone line, so sorry about that, but trying to go back to... So that's what I see when I take a look at Silver and just stay in present with the current patterns that are out here at the moment. And I hope that helps you out. Always good to speak with you, so have a great weekend, and I'm sure we'll be looking at this over the coming days. Let me go to the next question that came in here. This one coming from... Let me do this first, though. I mean, my system kind of corrupted a tad, and so I'm going to have to restart something, but that's okay, and you're wanting me to... Nick, you're wanting me to go look at a 60-minute timeframe chart for the Dow, and I won't be able to do that until I get my system restarted. So I'm going to pass on your question right now, but your question is, can I take a look at the Dow, the daily, and the 60-minute timeframe? I know I like the 60-minute... No, I don't like the 60... I don't mind the 60-minute chart when we look at the futures contract, Nick. But with regard to looking at the 60-minute and the Dow cash indices, personally, I think it's a waste of time because you don't have equal increments out there, and so I shy away from that. So we won't do that. There's another question that comes in here, and so I'm just trying to... This is really kind of like a strategic pause, as best I can, to see if I can get things fired up in the background out here and still be able to... But Hector writes in, and he says, if the Dow closed today about 2616... I think he missed a number out there. It's 30,000 the next to stop sooner rather than later. So you're asking a great question. Here's what I would... Here's how I would answer your question, Hector. And specifically, you're taking a look at the Dow. Here's what we know about the Dow. It's still trading in a... Wow, what's going on here? It's still trading in a sideways consolidation. My target, if the Dow continues to move higher, is the trend line that I would take from the... This is a monthly chart. Nick, you can do the same thing. Use the high from January 2018 and then the high from October of 2018. Approximately... We only have one more week left in the trading session. That would be about 27-235. It would be slightly higher than that, maybe 27-265 for the month of July. Do I see us moving to 30,000 sooner than later before the consolidation tops out? My answer to you is no. I don't see that. Now, if price breaks above that little diagonal line out there, well, then maybe we're into something and maybe the consolidation pattern is being broken. But right now, I just don't see that. If we look at the other indices out here, you're really going to see the same things, Nick. Over on the right-hand side is the S&P 500. We can see that it's trading, in essence, above the highs from October of 2018. It, too, you can draw a diagonal line from the highs in January and then just simply use... I'm just using, actually, September 2018's high out there. That would take you to about 30, 24 or so inside the S&P 500. You can see the NDX100. On the bottom left, you can see the Russell 2000 on the bottom right out here. Well, away from its all-time highs, the S&P 500 in October of 1902 in the cash indices is a significant resistance level out here. So I think what's really important to understand, I won't post it just because I don't have it up, Nick, is we are still in this unfavorable seasonal cycle inside the markets. And what that says is that the... Well, let me just do this. We all learn more easily, most of us, visually. And so it does make sense for me to just take the time and put this chart back out here because if you can see it, then at least you can follow along with my logic. You don't have to agree with my logic. Come up with a different way to interpret what it is that I'm looking at. But here's the seasonal cycle. And there is not anything. Did I say anything? I mean underline anything. There is not anything going on right now in the markets that isn't following along with the basic historical annual seasonal cycle that we see inside the Dow. Let's not get too hung up into... Let's not get hung up into the dates that I have on my system because the cycles can shift, which I believe they've shifted by about three weeks out here, that you would expect an actual higher high to form historically inside the Dow, going into that last seasonal cycle before the market starts moving down into October, the middle of October. Maybe it's going to be the third week in September this year. I don't want to get caught up into the dates out here. But when you look at this seasonal cycle, there's not a thing that is different with regard to the way that the market is behaving right now than what we have seen historically. So I'm going with the idea, and I think you should too, that we're still inside a consolidation. And that what we should be looking for is some type of topping pattern. Now, I don't have the charts up here that I can show you. Maybe by the end of the hour I'll be able to post them. The earliest timeframe right now, there's a set up nine count pattern that may be underway in many of the cash indices, Nick. And what that would say, that would say the earliest time for a top inside the equity indices would be Wednesday, Thursday, or Friday of next week. But the New York Stock Exchange right here right now is saying not so fast. It says we should be on guard even today. We'll be right back. The security for these first mortgages are building lots in the Tax Opportunity Zone in St. Petersburg, Florida. The Tax Act of 2018 set up tax-free zones across the country where you can build and hold for 10 years and pay no tax on the profits, which makes these lots valuable. 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%. 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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. Don't forget, you can listen to TFNN live on your mobile device for 34 hours per day. Go to TFNN.com and hit Watch Tiger TV. That's TFNN.com and hit Watch Tiger TV for the latest market information. Folks, I was up 45 S-M-P is flat out here and before we went to break and Ruby, I'll get to the U.S. dollar index in a moment but as we were going off air, I said, and my other charts haven't come back up yet so I can't show those to you. I'd like to but I physically can't do that but I had mentioned that the New York Stock Exchange, at least that's 1.42 in the afternoon is generating a signal that says a retracement, a retracement has begun. Is it a top? I don't know. It's certainly a retracement. What do I mean by that? You know, if we take a good look at the advanced decline oscillator, that's the center portion of my screen and that is, by the way, for those of you that are new to that an oscillator is nothing more than the difference between two things. In this case here, I'm using moving averages. I'm using rocket science to determine those moving averages, literally rocket science, and we're using the 19 and the 39 day exponential moving averages out there. When that oscillator line gets up to plus 150, it generates a really important message to you and I. First, when it gets above 150, you can see a couple of instances when it did that here. It tells us about future prices. That doesn't necessarily mean tomorrow that the highs that you're seeing at that stage are going to eventually get taken out. That's the message that takes place. You can see the other time back here between January of 2019 when the oscillator stayed above that level. Of course, that has led to higher highs as we speak. The problem becomes when price turns down from that 150. When it begins turning down from that 150, it's a version of the over bought reading out here, a version of the reading of what over bought means versus the relative strength indicator which people misuse all the time. This one's pretty easy. It's numeric. You get up to plus 150, do you turn down or continue moving higher? You turn down, you've got a failure. What I like to call a failure pattern says that price is going to continue to pull back. So New York Stock Exchange is already generating a signal for us saying that price is going to pull back. It just may be a normal retracement and pullback. How will we know otherwise? Well, the easiest way to know otherwise is to pay attention to the spot volatility index and its 50-day exponential moving average. I know you and I talk about this ad nauseam, whatever that means. I hope I'm not making you sick to your stomach. But with the spot volatility index below its 50-day line, which is 1570, we're trading at 1470. So nearly a buck, it's 1473 to be exact. A buck underneath it, that's pretty significant price spread out there. Only if we see the spot volatility index close above the 50-day, will that signal to you and I that we've got a deeper retracement that would be going on at least inside the New York Stock Exchange, which you can't trade. But you can get the general condition of the markets, which is a beautiful thing. So that's what I see Hector when I take a look. We don't have any new profiles out here, so this will help Jay, who I know was into, oh, I take that back. Jayster, I take that back. Just within the last hour, the Russell 2000 has decided to get in on the game and generate a new market profile. Very interesting. And that profile out here, the top of the box is 1569, bottom is 1527, center, which we're below is 1557. And this is a bare structured box out here, Jayster. Bare structured box. So the New York Stock Exchange is signaling to you and I, at least as 146, I don't know what it's going to look like at 359 this afternoon, but assuming that it doesn't look any different than now is signaling to you and I expect at least a retracement. This may be a retracement to buy into the long position to still take price up above the highs that we have already seen, kind of those diagonal highs that Hector and I were taking a look at out here. So now in a bare structured profile, let me just expand this out. Let me make sure that I clearly articulate for folks what the heck that means out here. Bare structure doesn't mean bearish necessarily. It's just directionally speaking with regard to where price is likely headed to and what we're going to do right now is we're just simply going to as soon as I can find it, we're going to turn price off because if I turn price off out here, it's much easier to see the right hand side. Let me just simply highlight it with a yellow rectangle. Here is the new box that is formed, the new set of profiles that is formed inside of the Russell 2000. Notice how the center line is closer to the top than the bottom. That means that sellers are the ones really in control of this price area 1527 to 1569. Now when you get below the center line, the center line is where both buyers and sellers have gone up to 1557. Let's turn price on. We're just slightly below right now. We're 1555, not good enough. But if you do, Jay, get below that by several more points out here, then odds favor at least moving down to test the bottom of that box 1527. Now seeing this, I'm glad that subscribers and I got out of the Russell 2000 long trade in essence at the highs of yesterday. Turns out looks like that was a good move today. No other profiles yet established in the ES many the NQ or the Dow equity futures contract to be able to share with you was the prior box bullish was the question inside the Russell 2000. It was Tucker and so if you take a look at let's just expand this up a little bit. Let's go ahead and turn price off again. And so it's an excellent question and thanks for paying attention and listening to what we're going to do with you. So if you take a look at this is what Tucker's asking about. He's asking about this box. This was the prior box out here. And if we take a look at this prior box, what you'll notice is you'll notice that the center line was much closer to the bottom than the top. And so yes, that was a bullish structured box. And so the same thing here, Tucker, when price gets above that center line, you'll notice that the bottom line is that the bottom line is that the bottom line is that as soon as that box was formed. June 4th, June 5th, June 6th interday was a test of that support. You know, you really closed above it on June 7th and price went up to test certainly the top of that box. That's why understanding the profiles. And are they are they equally as close to the bottom line is it bullish? Now here inside the Russell 2000 Tucker, if we take this just one step further. If price close above 1569. Call 1570, which is lower than yesterday's high. Yesterday's high would be the swing point, and that would be at 1576. What Stevie would say is any close about 1570, nothing more bullish than a failed bearish pattern. This would be a push price down to the bottom of the box, so then you would expect that price would continue to move higher. Does that help you out? Talk with regard to what it is that that we were taking a look at out there. I hope that does now. Let's go to Ruby's question. Ruby's question was asking about the US Dollar. John is posting in my system that the euro is breaking out and so really both are kind of breaking out. So let's go back to that. Let's make sure that we understand what's going on long term. And what you can see out here just want to make sure it's real clear. Sorry didn't mean to spit out water. Hopefully they didn't catch that on Tiger TV. But nonetheless, you can see how the US Dollar index bottom back here in 2011. You see a couple different trend lines out here. Let's take a look at that. Let's take a look at the trending trend line going back to 1986 out here. But that's not what that's not what the question was. Ruby Let's go back in the two minute wrap and take a look at the US Dollar index. Give her a price target as to where it's headed to. We'll be right back. Since 1984 Basil Chapman has been using the Chapman wave methodology to enhance the degree of accuracy and calling price turns as well as market trend calls. Thus was born the Chapman wave sequence using the Chapman wave methodology along with other indicators. Basil Chapman advises his subscribers of his expert market opinion each market day with his opening call newsletter. Right now we're going to talk about the Chapman wave methodology. We're going to talk about the Chapman wave methodology. We're going to talk about the Chapman wave methodology. 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 it anytime during that trial and pay absolutely nothing. Get your two week free trial to Basil's newsletter, the opening call today by visiting Tnn.com. It's amazing to think that Tom O'Brien started his weekly gold report 17 years ago with the first issue published April 7th, 2002 $300 per ounce. Gold peaked at more than $1,900 in 2011, and after spending many years consolidating at lower prices, gold may be poised for its next big run. 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I get a push text message to me that Roy Orbison and Buddy Holly are back. Now, if they're back, folks, I'm going to see them. Don't miss this once-in-a-lifetime hologram show. So it's beamed down from heaven, I would think, out there. But what two great artists to be great to certainly see them. Anyway, let's take a look at the US Dollar. We'll only have about a minute and a half out here. Here's what we know, Ruby. We know that price closed below the bottom of the daily profile. That's at $96.19. Profile-wise, if we take a look at the weekly profile, the next level is $95.68. So be careful here. Price is down at support. I know during the break we were talking about the Euro, but the Euro, although represents about 55% of the US Dollar index, you know, here we're taking a look at the conglomeration of the Euro, the end, the pound, the Lune, the Swiss Franc, and the Swedish Krona out here. But there's an A to B equal CD to the downside. If price closed below $95.68, not much further below, but around $95.44. That's your 1-1-A to B equal CD. And if you don't see a bullish reversal signal and price does get down to that level, then price will move down to $94.94. You wait for the bullish reversal signal to let you know that the A to B equal CD pattern, or in this case here, a Gertlie buy pattern would be complete. Here's the other 30-minute, 120, 5-hour time frame chart. All red shoots, so we're not seeing any kinds of signals of a bottom even on an intraday basis out here. So Ruby, I know you're short the US Dollar index and best of luck with that trade. So folks, at this stage here, just to sum it up, we're getting signals that the market is getting ready to pull back. This may just be your garden variety retracement, dip, so to speak, that one would want to buy. We'll have more, a better idea, more better, more better. We'll have a more better idea. I know, send me back to grammar school out there next Monday, Tuesday, or Wednesday, I would say. But in between that time frame, stay tuned. The world's best polar bear. I mean, the smartest polar bear in the world. He's up next, David White. After that, Tom O'Brien, we'll all be back with you on Monday. Have a great weekend, folks.