 I think that we've got our guest guest host coming up right now. We've got Steve Rhodes. Hi Steve. How are you doing well basil yourself? I'm very good. Thank you. Nice to be with you. So you're a big tennis player. Go ahead. Yeah. Yeah. I was just going to say just before we get going. Tell us the service that you provide here at TFNM and then we can get going. Sure. So I provide a daily newsletter service. It's called Mastering Probability and I send out a morning update usually by 9 o'clock if not a little bit sooner. It covers all the markets. When I say all the markets all the futures markets all the currency mark all the the when I say future I know you mentioned that your long commodities. So I cover all the different commodities out there. And then I do a end of day report. So after the market close we take a look at what's going on inside the sectors inside the S&P 500 the index ETF side WM diamond spies and cues as well as the indices and just anything that I know to help folks in the overnight session. So an example might be the spot volatility next which I believe is I'm not looking at it right now basil but it was trading above a one day rate of change above plus 10% and when we get days like that for those folks that trade the equity futures it's really a cool tool because we put that together with different bottoming patterns that I teach subscribers like you teach subscribers the Chapman wave. And it just provides an edge to allow folks to understand what the markets are doing where they're headed to because we identify support and resistance levels. And so that's what I do each day and then like yourself you know I do a do a show. So I thought that today maybe just carrying upon the theme of last week we were talking a little bit about the about the bigger picture out here. And the net capital movement is really for me is one of the keys to understand the future. What I mean by that it's a matter of being able to try to identify is is money flowing out of Asia into the U.S. out of the third world economies into the U.S. and out of Europe into the U.S. or is it going the other way around. So understanding that capital movement is really key to understanding the future and during periods of war or international uncertainty. So we certainly have that going on a capital typically or the U.S. dollar capital flows into the U.S. dollar and you know because we're the reserve currency is one of the reasons out here also because the U.S. dollar has never been canceled. That's way different than the euro and other currencies over in Europe goodness different than currencies in China really any place around the globe. So the U.S. dollar index has never been canceled and is in and is a reason that capital will flow to that. Now you know a lot of people talk about inflation and all the money that's out there under the assumption that the U.S. dollar is somehow cratered. The U.S. dollar index bottomed in May of 2011. And right now it's generating a signal least in my work that price might target the 109 58 level. And we're trading around 99 92 right now. So that would that would be above the high that was made in 2020 of 102.99 on the index. Yes. Yeah. So I'm going to be. Yeah. I have an A to B equal CD pattern price above the top of its daily profile. And certainly the the swing point that you're referring to is level that's got to be taken out. But the notion that somehow the U.S. dollar index is cratering is just a just a it's just an incorrect assumption. And we know that what an instrument. No. Another thing I want to share with folks is that when instruments trade above the prior year is high or then the instrument is termed to be in a bullish mode. And the opposite is true. If you start trading below the prior year is low. Instrument is definitely bearish out there. So here's a picture of the U.S. dollar index for a daily timeframe. As long as price remains above 96 94 from a yearly standpoint the U.S. dollar index will be bullish. Now as you know there's a currency pairs that make up the U.S. dollar index. Three of those currency pairs the euro the pound and the yen make up 83 percent. The other currencies are the Canadian dollar the Swiss Corona and the Swedish Swiss Frank and the Swedish Corona out there. But if we just focus in on these three that make up that meaning the euro the pound in the U.S. and the Japanese yen out there. What we'll see when we take a look at their monthly charts is that there may be a change in trend unfolding by this coming May. So next month and the U.S. dollar index generated TD nine count bottom patterns in twenty twenty one for the euro. That's a the euro bottoming pattern. Where did I. Oh my goodness. That's the euro dollar currency pair top right there. There we go. So with the right upper right hand chart you'll see bar number nine. It's another pattern that I that I teach out there. And if you take a look at the phone in the lower left it was a TD nine count top that identified that top. And we can take a look at the U.S. dollar index on a monthly basis. It was a TD nine count bottom. No. We take a look at what's going on right now. Right now the U.S. dollar index if you look at the very right hand side it is in bar number nine. Remember there was a bottom of TD nine count can either top or bottom bars eight nine or the bar following nine. If we look at the euro it also is in bar number nine out here. Looks like it's going to go target the one oh seven level. And if we take a look at the Great British Pound it's also in bar number nine and the Japanese yen is in bar number nine. So this is suggesting to us that we may see a change in trend in these currency pairs. It may be at the by the end of April it may be by May using the TD nine system. One of the reasons that I like to track currency pairs especially the euro is because of the impact that it has on capital flows into the U.S. stock markets out here. And we take a look at this chart in the past out here and a real key level for the euro is going to be this one oh five area. These blue arrows and I'm just focusing on the euro here Basel these blue arrows show the valid monthly TD nines for the euro since 2005. So if you start in the lower left you'll see a TD nine count bottom that took price up until formed a TD nine count top. We take a look at back here in July of 2015 we see a nice TD nine count bottom then we've got the TD nine count top we took a look at in 2021. And now we've got another pattern another TD nine count pattern that is forming as I said will complete by May. So it's something that we really want to pay attention to the July 2007 TD nine top people might have thought I overlooked that and it didn't overlook that. This is a pattern that actually failed. Now when I say it failed when you get a TD nine count what will price will typically do is move down and test this line that I call the oscillator and change line another tool that I share with people. And if price holds a green oscillator and change line as it did here that's a very bullish signal we see that price basically doubled in the euro off of that TD nine count top that it failed in July of 2007. So we want to pay attention to both sides of the trade out there and if the euro in this case here continues to to to fall then we should see a strong rally in the S&P 500. And again that key level that I'm watching here and this is we're looking at a line chart so just closing prices. So on a closing base if we see a move below 105 inside the euro what we're likely to see is a huge move up inside of the S&P 500. When I say a strong move I'm referring to figures like 50-22, 55-12 or 6,001 those represent horizontal trading ranges you may remember that takes us back to the days of Bud Rawls out there. So that's my view on a shorter term basis what I'll share with people is that the S&P 500 the cash indices in bar number eight today the ESMini is only in bar number seven. This is the way down the other way down and this means that we could see a bottom between today and Wednesday for the S&P 500. So it's always great to be with you do such a great job and thanks for taking the time. Thank you very much Steve. Love to hear your work and I love the way that you always dig deeper into everybody's techniques and it becomes your own. Thank you very much. You bet. Take care. Have a wonderful day. Thank you.