 Over to I'm Amis the Steve Rhodes as we do each and every Monday at 20 past the hour and don't forget folks He doesn't outstanding show here every trading day 11 11 to 12 Eastern standard time also a great newsletter mastering probability now It's very easy to get his newsletter come over to our website at TFNN You're going to newsletters. You see mastering probability right on the right-hand side You just hit that mastering probability you hit subscribe you can get mastering probability for one month for $149 you get it for six months for 695 which is a savings of $199 22% and you can get it for one year for 11 95 which is a savings of $593 and 20 or 33% now folks bottom line. We have a trade is marketing man. I mean big time So come over check it out You can basically get it for 29 days free. It's a 30-day money back guarantee and you'll be happy if you did Steve Rhodes What's going on? Well, we're so glad that you folks in Tampa beat one Storm hurricane Ian pretty heavy lost but then lost to the storm that blew in by Kansas City. I know Yeah, what are we gonna do those games? Yes, they were unbelievable, man And I love the Holmes anyway, so it's terrible because I like Brady too, so it's like no I mean that that kid something else man. Well, they're both something else But he is well, you know when he gets on I think you know, I think he's best when he's out of the pocket Yeah, you know talking. Well, oh, yeah, let me throw that over here for that time. I mean seriously I mean Amazing, absolutely amazing So the question everybody's got today including myself is that the stock market just make a bottom So I thought what we could do is kind of focus it on the dial Okay, just take a look at the chart patterns out there and see what they say so let's start with the Dow's 125 year mid-term election cycle pattern. Okay, and if we take a look at that pattern That's what we have up on the screen right now the red vertical line that represents where we're at today And I'd have to say and taking a look at this chart the answer to the question would be yes And this would also suggest not that we won't see ups and downs pullbacks But this would suggest at the market the Dow itself could run higher right into election day November the 8th out there So that's coming from the seasonal cycle chart However, if we take a look at last Friday's price action That was a second consecutive weekly close below. It's a June swing point out there Okay, that really triggers an A to B equal CD to the downside with the first price projection level being about 268 69 248 now what folks can also take a look at as price was moving below the B point on a this is a weekly chart Yes, so we're looking at as price was moving below the week the weekly swing point It was with lighter volume So always makes that a to B equal CD to the downside a little bit suspect now for the Dow cash index that same pattern It's weekly a to B equal CD to the downside would look like this And this here the a to B equal CD we can see the one-to-one would take us to 269 82 But if we look at the retracement from the 2020 lows to the highs out here in 2022 Well, we'll see is that point six rate retracement is a 1 to 1.272 a to B equal CD pattern And that would suggest that would then potentially form a Gartley by pattern So we've got mixed signals out here if we take a look at the shorter term This is the Dow This is suggesting that the Dow may have bottomed as price found support at a descending price channel Now what I've done here, Tom is I've taken the the the tools at Bud Rolfe's taught to us I'm taking a look at the open and closes of candles to create that channel line So the top of that channel line is very very solid. I believe the bottom of the channel line is also solid We can see that price got down there And this is suggesting that we could see price move up to either the midpoint of this descending price channel or Make its way all the way up to the top of that and that signals that we should see a further rally Now we can also take the Dow's what so those were diagonal price channels out there We also look at horizontal price channels, and that's what these green lines show So at the same time the price was hitting the bottom of that descending price channel Well, we can also see his price was finding support in the air of 28 9 0 9 That was the next horizontal trading range boundary line So this suggests or supports the idea that we could see a short-term bottom with a further counter trend move and if price But however, if price takes out the lows of last Friday out here What the real signal would be telling us is that price is busting through this descending price channel out here It would likely this is a much bigger picture. Yes This takes us back to 2009 the yellow lines are the rising price channels that we have been in here And so a bust of the lows from last Friday would suggest their price moves down to about the 26,500 Area and that's where we've got this next rising yellow Diagonal line to the upside From a daily standpoint if we take a look at the Dow equity future contract and I took a snapshot of this Probably about 10 15 minutes ago. We're definitely gonna get a bullish engulfing candle now This is a daily a to b equal CD pattern and where price got to earlier This week or today this morning was the 1 to 1.272 levels have got below the lows from last week We now have a bullish engulfing candle We also have we take a look at the expansion of swing points here from the June lows to the highs that we saw out here in The August time frame. We've got a 1.272 expansion that took us to the 28 594 level so this gives us a Gertley buy pattern and this would suggest that price This is the Dow Dow equity future contract folks This would suggest that price may want to move to either 35 45 or 31 256 Those happen to be the center and top of their bearish structured daily profile So this is going to be a sell zone 3545 to 31 256 and if that run is going to unfold Well, then what we needed to see today, and I don't know where we're at right now again This was a snapshot from about 15 minutes ago. We need to see price close above this red green line That's referred to Tom as the oscillator and change line We've only seen since the move lower back around the 22nd We've only seen two bars that have actually closed above this line So today could be bar number one today could be bar number two if we get beyond that Then that's supporting that run to this 31 256 level that I had referred to just before So in overnight trading so we take a look at a number of different time frames So weekly charts say hey you busted through those June lows It was on light volume, but be prepared for a potential a to b equal CD to the downside We did hit some support some a descending trend line channel support out there the daily time frame is giving us a Gartley butterfly pattern out here Now we switch down or I switch down into shorter term time frames and the two-hour time frame chart and In a real key as to whether now we've made any kind of bottom of significance here with a rally That could take us up into election day is going to be how this first retracement takes place Do we get a do no do we start to form? Higher bottoms and higher highs out there well the two-hour chart is one that I'll be paying attention to tonight And the reason that is Tom is because it's going to complete what I refer to as a teeny nine count top By day's end okay as the equity future contract comes to close typically when we get teeny nine counts We will see a retracement The question is do we see a retracement back to support the top of the profile on a two-hour time frame? That's a twenty nine four thirty two or do we get a pullback all the way to the oscillator and change line Which is likely out here now these patterns they help us to identify when potential tops or bottoms form They don't always work meaning that we could see a top It just was a sideways move and then price continues to move higher and a price takes out overnight twenty nine seven eighty four That adds to the idea that we should see a further Countertrend move out there, so it's going to be the two-hour time frame chart to be watching overnight for those folks that Watch the future contracts out there and folks Bottom line is traders market. So if you'd like to trade come over to our website at TF and Hit the newsletter go on the right-hand side. You see maximum probability right there. Steve does a great job lines everything up every morning, I mean You got a lot of volatility man, you do you do and I'll just last I lastly I posted up this little chart here This is a market analyzer to it evaluates what the market conditions are for all these different time frames You can see on the dailies for the mining sector. It's showing the bear market is over inside the mining sector Well, I like that. Yes, you do I give it a big kiss Great one is safe one look for the show tomorrow Steve eggs time. Thank you