 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 From TFNN Welcome to the August 5th, the magical Monday 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. And 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 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 those buyers and sellers are communicating to you and I just passed one o'clock in the afternoon. I want you to know that I'm absolutely grateful for your presence here, but way, way more important than that. During this next hour, I'm here to serve you. So feel free to pick up that phone. You can dial on in at 877-927-664. And if you can't dial in, we've got you covered. Let those fingers do the walking. Send me an email, stevetfn.com, inside the subject heading. If you'd be kind enough to put radio show question, of course, in our Tigers Den, any and every ping will do. So let's go ahead and get this show started on magical, marvelous Monday. Of course, this is Tiger, financial news network. I'm Steve Rhodes. Welcome to Lush Show right now. The Dow trained down 712 points. 25, 771 is a print. S&P is off 78 points. It's about two and seven tenths percent to the downside. So all indices in the red lead. The charge to the downside is the SMIs off 4 percent. They're trading down 61 points. 1426 is the print there. You've got the spotball of Tilnex up 29, almost 30%. That's up five buck runes. She's trading at 2282. Gold's up 17 bucks. Silver nine pennies. Lights recruit off 65 cents. Lead the charge to the upside. Oh, sorry. No chart being posted there. That doesn't help out. Let me get the chart out there. Otherwise, you're looking at what? Who knows what? You're just looking at my ugly mug. We don't want to do that. Here we got the chart. So lead the charge to the upside out here. You've got, I don't know what this is. Alicos up 130% buyout IPO. Who knows? Individual stock wise, it would be Tyson Foods. That's leading the charge of $5.60, 7% out there. ABIO met is up five bucks. Otherwise, it's all ETFs that are trading out there. To the downside, booking holdings off 52. Amazon down 50. Google off 41. Mercado Libre off 39. Intuitive surgical 21. Plenty of things moving to the downside. So where do we begin? Let's go take a look. I believe there's a question that has come in. Let's go take a look at that though. There's a couple of questions that have come in. So let's take a look at first James. James Wrightson says, hey Steve, hey James. Hope you're having a great day. I am. Hope you're having a great day too. All right. So let's get out. He says, James says, I got out of most of my positions a couple of weeks ago, only holding some gold and some mining equities. I would like to know when I can get back into the S&P 500. Do you have any time? And also the Q is out there. So here's the easiest way. What James didn't do is he didn't share with us. When he says get in, what does he mean by getting in? Is this just as a trade? Is this for a longer term standpoint? So we don't know that. So but let's answer James question as best as we can. Maybe for all traders, all time frames out there. So let's start with what we know. Here's what we know about the markets. Could not be any easier than actually taking a look at, I don't know why I've got a problem with this white line there, but hopefully we don't have any system problems during the hour. But here's what we're taking a look at. We've got the Dow equity futures contract. And why don't you pay attention to is really, the message here is very simple. The Dow is still in a consolidation pattern. We take a look at the Dow equity futures contract. The consolidation is just so clear. It's between the level of 26803. I know you're going to say, well, didn't we get above the 26803 level inside the Dow equity futures contract? We did, but we never broke above, closed above on a monthly basis. The rising trend line, you and I have talked about this in the past. And so now you've got these two horizontal lines at 26803, in essence, the top of the consolidation, the bottom somewhere in the 23207 level. James, we should be fortunate enough to get the Dow down into that 23207 level. What would also be nice about that is you've got a little rising trend line off at the bottom of the consolidation from August in 2015. That's a green diagonal line out there. We won't pay too much attention to that, but really to answer your question, we're in a consolidation. If you can't bust them to the upside, you very well can bust them to the downside. I'm not saying we're going to do this overnight. This could take time. This could take until October. This could take until January. I don't know. The consolidation, last consolidation that we had, it's clearly marked here, began in 2014. We didn't know that at the time, but we had a pretty good idea, I would say by March and certainly by May of 2015, when the previous highs could not be taken out. Price did what? It came back down to the bottom of the consolidation, a test of that level a couple of different times. These consolidation patterns can last for a long period of time. So with regard to intermediate term timeframe trading, if you're looking at putting a bunch of cash together, the ideal place to put that to work is going to be at the bottom of the consolidation unless we see something otherwise. So I hope that helps you out with regard to that question. Now, you may be an intraday trader. You may be, say, looking just for a trade out there. For example, we've got some intraday traders inside the Tigers den out here. And in essence, they're kicking the can, kicking around the same question out there. Hey, is there a short-term bottom that might be in play out here? And to answer that question, all Stevie has to really do is go take a look at short-term timeframes. Now, I always like to look at my Bob system, tells us whether the market outlook is bullish or bearish for the different timeframes. Here, we've got a 30-minute, a one-hour, a two-hour, a five-hour, tells us exactly where we're at, as well as it's looking for those bottoming signals out here. So if we take a look at these short-term timeframes and I'd posted inside the den, well, the question my friend may be blowing in the wind, and the wind here would be inside the Russell 2000. It is the Russell 2000 30-minute chart. That is the only chart that is showing us a potential for a bottom. And so therefore, we need, this tells me where it is that we need to focus our time on to try to answer that question. You'll also notice you've got a two-hour and a five-hour signal of a top inside treasury bonds out there. Again, it all depends upon your time frame. And we don't really know what James's time frame is out here, but for example, if the market is going to form a bottom, equity market, any market, any instrument out here, typically what we like to see is one of a few patterns, but the best ones are the rose momentum indicator signal out here. And that's right here. You can see the line being drawn from this hammer candle from around about 11 o'clock this morning. Right now, you can see that price has been pushing lower doing the rest, doing it with less weakness out here, relative strength weakness out, relative weakness, not strength. But what price hasn't done inside the tiger's den, hasn't taken out any kind of resistance. Right now, resistance is Stevie's red line. That's $14.91. At $14.91, it's also the center of its market profile. So the answer to the question is the market getting ready to bounce may not come from the ES or the NQ or the Dow. Might be right here, but it's not given us that signal yet. We'll be right back. In today's technological world, the use of top flight software applications and technical analysis expertise is essential to successful trading in today's market. You also gain access to the webinar that Steve Dahl and Tom O'Brien just hosted, the best way to use the TAS profile scanner to profit. This webinar archive is available for all subscribers immediately upon signing up. All new subscriptions also come with a 30-day money-back guarantee, so you have nothing to risk. Start your subscription by visiting the front page of TFNN.com today, and you'll find the TAS profile scanner under the Services tab. Sign up today. Are you in the market for buying or selling real estate in the Bay Area, including the surrounding St. Petersburg, Tampa, and Clearwater markets? Tiger Real Estate LLC is a firm that has extensive experience in the Tampa Bay Area. 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Hear all of the TFNN shows plus see all of the charts as they happen live and have access to archives of all of those charts. You can test drive The Tiger's Den absolutely free for 30 days and greatly enrich your knowledge of these markets and how to make your money work for you. Details on The Tiger's Den are on the front page of TFNN.com. Just accessing your newsletter subscriptions. We even have new pricing in six months and yearly options. Check out the new TFNN.com now and experience all the upgrades. TFNN.com educating investors. Welcome back folks. So we're kind of continuing with JJ's question but there's another one that's coming in this will kind of bleed into it. Maybe the same questions that many folks have out there. So this one's coming in from Tom G. Tom writes in, I'm looking at the VIX I just got out of the TBIX long trade. If the VIX closes over the 10% one day rate of change do you think I should take a position in the SVXY which is shorting the VIX out there? And then he'd also like thoughts on gold, on natural gas and oil. So let's go take a look at it. Try to meld all these things together. So before we went to break we were paying attention to the Russell 2000 just simply because it's the only timeframe chart that shows that the potential of a shorter term bottoming signal, the roadmap indicator. Now we may get the bullish reversal candle. We won't know for another 11 minutes out here. But if we do in pricing close over Stevie's red line you can see where it's at right now. We're in essence traded into it. That's resistance by the way. So closing above resistance would say what? Say you would go to the next level whereas the next level of resistance will really at that 1492-ish area which is the centerline of the 30-minute profile for the Russell 2000. There's both buyers and sellers that are hanging out there. So you really need to see a close above that. Level 1492, I don't know. Maybe it's 1495 is the number of something like that. But if you were to get that it would say that there should at least be a countertrend rally in the Russell 2000 to take you up to 1503. 1503 is the current 30-minute profile. That profile can change a half an hour from now or an hour from now but we'll just go with the numbers that we have right now. Now the better bottoms are made when the other equity futures contracts are making the same type of pattern on a 30-minute basis. And we don't have that in play here. So we can't go to the NQ and this is really getting back to Jimmy's question or James question about the Qs out here. Still your primary question James we're in this consolidation. It should be no surprise to anyone. Why it's such a surprise to the folks in the financial media that the markets are doing what we're doing when we've been in this consolidation is one because they don't really understand what a breakout is. Prices never broke out of the consolidation out there. If we take a look at the ES mini here's your 30-minute time frame there again. Stevie's got no bottoming signal out here. All we're seeing here is maybe a little countertrend move up to 2862. So it's just the Russell 2000 that's given us a signal to be paying attention to. So in essence back to in essence if we go back to now Tom's question he's asking about spot volatility next to get a one day rate of change. So let's get to our one day rate of change chart out here. Give me a moment. I believe that's going to come up right about here. What Tom is asking about you'll see all the other blue arrows on my screen out here. They also happen to represent a one day rate of change above 10 percent which is what Tom is asking about. So in Tom's saying hey should I take the other side of that trade out there. Here's what I would here's what I would like to say Tom is I would say the answer to that would be yes I'd feel better about that if we saw the same pattern on a 30 minute chart that's right now in the Russell 2000 if we saw that same pattern inside the ESMini. So more ideally for you between now and four o'clock what you'd really like to see is you'd really like to see another sell off inside the inside the markets inside the ESMini inside the NQ inside the Dow another big nice push but to do it with less relative strength out there less relative less relative weakness to the downside and then look for some type of bullish reversal candle on that 30 minute chart then you're looking at at at at least another at a nice signal out there. Now maybe you don't get that if you don't get that then what is it that you can rely upon or you know I like to say hey so why is the market bouncing just a tad from where it's at right now. Well that answer is pretty easy and the reason why I say that's pretty easy Tom and James and everybody else out there is because price just simply has come down to a support level and so it's testing that support level. What support level are you talking about? Well really inside the ESMini there would be two support levels. The first support level that we'll take a look at is the bottom of its weekly profile out there. The bottom of the weekly profile is measured at 202862. We're trading right now at 2856 basically. So just a handful of points below that. We know that price is testing a level of support. We close below that. Does that mean curtains? Does that mean that it's over from here? Well not necessarily because there's a secondary level of support that the ESMini is trading into. And that is its horizontal trading range boundary line. The daily horizontal trading range boundary line is are in blue. The red ones are the monthly. The green ones are the weekly. You may say hey boy this looks awfully complicated. It's really not complicated at all. I mean I could turn off the weekly or the monthly. We're looking at a daily timeframe out there but I think it's best to understand where there is potential congestion which is necessary support as you're driving down the lane here. As you're driving down the expressway. Well the expressway you will see has support. The next levels of support inside the ESMini are 2836 to 2852. We're trading at 2855 as we speak right now. So prices come down to a level of support. We're seeing that little bounce out here because uncertain whether it's going to be able to take that support out or not. But if you do see a close blow 2836 that suggests a further move down. And we get back to that June area. June 3rd area post haste because that could take us right down into a daily and a weekly horizontal trading range level. And that's at the 2772. So what do we know as of 1 24 in the afternoon. We know clearly that the ESMini has made its way down to a key level of support. There's been 38 opens or closes at this 2852 level for the time period that I've got my data out here on the chart and it goes back quite a way. So it's a real key level of support or resistance in this case here support. So then back to the spot volatility next. What I would say to you Tom is that you're most certainly looking in the right spot. Now why would Stevie say that. The reason I would say that to Tom the reason that I would say that to you whoever you are you you out there is because if we look at what the spot volatility is trading at right now this is 125 in the afternoon. The price point is 2249. Now what I want you to pay attention to is the bottom section of my data out here where you see the August contract for the spot volatility next which right quite frankly straight at 1995 the September is at 1912. And then we go all the way out into April of 2020. So these are all the futures contracts that are active inside the spot volatility index. You'll see it can go all the way out to April and that number is 1830. This tells us of a total misalignment. This tells us of a short term scare out here versus a longer term scare at this stage. And when this happens things have to get back in line. It's a matter of trying to time it. Well the easier timing would be nice nice a rose momentum indicator bottom signals like we see in the Russell 2000 but see that inside the ES mini because the ES mini is not going to be the Russell 2000 that's going to be the one that's controlling the spot volatility index but the S&P 500 the ES mini well then the answer there is yes so we want to be able to see some type of bottoming pattern. It could be it could be just simply coming back to support inside the S&P 500. But Tom I'd feel much better to see these markets close to to have another push down. I'm not so interested in the close but another push down between now and 4 p.m. to assist you with that because otherwise that additional push down could be 9 o'clock 10 o'clock 11 o'clock at night or it might be around 3 30 or 4 in the morning just saying Steve Rhodes with TFNM will 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. 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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Using this first of its kind program The Art of Timing the Trade Charts allows you to scan thousands of stocks for Fibonacci formation setups including guardleafs, ABCs, butterflies and much more. The Art of Timing the Trade Charts 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 this 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 Charts 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 folks. That was off 715 S&P down 78. So hopefully James was able to answer your question in S&P with regard to getting back in on your long trade for the S&P 500. Hopefully I've been able to at least share with you Tom my thoughts on trying to reverse the trade inside the spot volatility index and what it is that you would be looking for. You asked what my thoughts were on natural gas, gold and oil out here. So if we take a look at natural gas, let me try to let me see if I've got this open. Do I? I don't. So let's do this. I'm just going to make it open. Here when we take a look at the daily time frame chart here for natural gas, you can see we're at a new low. What I'm trying to identify out here inside of natural gas is some type of bottoming signal. And I don't have that. I don't have a wave number seven or anything in the Chapman wave count. We don't have a TD set up nine count to the downside. We don't have price moving lower, doing less relative energy from a daily standpoint. Even if I do a little wave count from what it looks like above right there. You know, I just don't have anything to signal some type of bottom on a daily time frame for natural gas, profile-wise or other. If we take a look at the weekly time frame chart out here, what we know, Tom, is that it made its high with that TD set up nine count. From that high, we start doing our wave count to the downside. We're in wave number six, that letter F on my screen out there. That says that you couldn't possibly, if wave number G, wave number seven, letter G is going to be what calls the bottom out here. Well, the earliest that could happen would be two weeks from now. You'd have to have a higher low next week and then a lower low the following week. And then of course that couldn't be confirmed until the week after with a higher low. So minimum would be three weeks out for natural gas if we're taking a look at those being the patterns for on a weekly time frame. Tom, if we look at the monthly chart out here, we can see that we are now, again, this being the month of August is going to be month number eight of a TD set up nine count. Now the last time that natural gas formed a real significant bottom was back in March of 2016. It did it on bar number eight of that pattern. So now you take the weekly, maybe the weekly gets to wave number seven. This month we already, well at this stage here, this early stage here, it's only the fifth. We appear to be in bar number eight of a TD set up nine count. Maybe the intermediate and longer term is lining up for some type of bottom inside of natural gas. But I don't see it as we speak today. If we take a look at LightSuite crude and go try to do the same thing out here, I think I have even less information. Here's the daily timeframe chart here for LightSuite crude. When I say less information, I don't have any great patterns out here other than what appears to be a consolidation stuck between support and resistance. Resistance is 6314, but it looks like support is more likely where LightSuite crude is headed to. That's going to be around $51.84. That is where LightSuite crude on the September contract most recently broke out. You can see that number. You can see the red line on my screen out there. So that's what the daily timeframe chart provides for you and I on LightSuite crude. The weekly timeframe chart gives us a breakout level of $50.05 with price on the daily and the weekly trading below Stevie's red line. That says a further retracement is likely. If we look at the monthly timeframe chart for LightSuite crude, price is trading below Stevie's red line. And that support level is $47 to $45. So in essence, you've got three support levels, monthly, weekly, and daily. Each of those are lower. And that's what it looks to me. Like we're at in LightSuite crude, but I wouldn't suggest that you go short LightSuite crude right now. You're too close, you know, at $54.94, you got $51.84. You're too close to the bottom. In my opinion, you know, to take that trade, but hey, buy your caveat and tour, as they say. So I think I covered everything that you were looking for, Tom. And of course, I think you're more of a shorter-term trader, so you might not really be that interested in the daily and the weekly charts out there. So if that's the case with regard to natural gas, you know, in your style of trading, if we just go to the 30-minute timeframe chart, the one thing that you know is at the breakout level or the breakdown level held. That's the green horizontal line on my chart. And that was tested earlier today, and that was at $2.09. In those green levels, you would really need to see price close above that. In order for there to be any kind of short covering rally or anything else. So right now, resistance has failed. And the third down at bottom this morning, too, with the TD set up nine count, was the bar following bar nine. But price has simply made its way up to resistance and then sold off from there. So the 30-minute timeframe chart is saying, no, I don't think so. And if I look at a 30-minute timeframe chart out here for LightSuite crude, you know, I've got price coming down to short-term support levels. $54.34 was where the bottom held here. But based on what we looked at on the daily, the weekly, and monthly, I'd be flipping a coin. Not even flipping a coin. I think the odds are not in our favor to take that trade. I just don't... It doesn't mean it won't trade higher. I just don't see it in the chart patterns out there. And in essence, that's what you have asked me to take a look at. So Alex writes in, and Alex says, hey, Steve, got to fill in the UDOW. Use day price from June. Have a gain. Can I wait till Tuesday to sell? So the UDOW is the long position, right? Let me just put it on the chart. Let me just pull it up and make sure the... That is the long side of the dial. So I think I've answered that question, but let me be real specific here. I don't have the bottoming signal for the UDOW. Now, on a 30-minute timeframe basis, the last bar, the one that completed it, 130, is bar number eight of a potential TD set of nine count. So on a very short-term basis, it's possible that you'll see a bit of a more bounce. What you need to see in the Dow Equity Futures contract at a minimum is a close above 25802. The profiles that are currently here are so much higher above that of 26070 on a 30-minute timeframe that a new profile is likely to form before price would get up to that area. So there's the potential on a very short-term basis, Alex. As you're asking about waiting till Tuesday, we really need to see some signs. And they're just not there at 137. Doesn't mean we won't get them. You won't get them. Just means they're just not there. Again, my preference would be, like we discussed, another nice push to the downside done with less relative energy to the downside, bullish reversal signals, the whole thing out there. I don't have a short-term timeframe on a 60-minute basis. Although we do have bar number eight there. So it is nice. And look, these TD set up nine-count patterns, they are helpful in identifying tops and bottoms out here. 258072 right now is the number where price needs to close above in the Dow Equity Futures contract on a two-hour timeframe where we at. Well, in the two-hour timeframe, we are in bar number nine, and we are in wave number seven. That's from the highs out here for the Dow Equity Futures contract. So that's promising. But still, you'd like to see that 30-minute chart give that roge momentum indicator signal. I would prefer to see that, and it would be much easier to then answer that question. So if you do get that push lower, then you can kind of say, aha, and then you need, then you know what to start looking for. And if we move up to a five-hour timeframe chart for you, Alex, I got nothing, not a zip zilch. No sign of the bottom here. And then, of course, we can take a look at the daily timeframe. When with the daily timeframe chart, says to both you and I, is over time, price may get to 24, 826. But I will say, Alex, maybe not so fast, because today on the daily chart, you're going to be bar number eight, the TD Setup Nine Count. That could signal a bottom is near a tradable bottom. We'll be right back. If you're in the CD market and looking for a secure investment, the Tiger First mortgage program may work for you. The security for these first mortgages are building lots in the tax opportunity zone in St. Petersburg, Florida. 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The prospectus and summary prospectus contain this and other information about direction shares. To obtain a prospectus or summary prospectus, please contact Direction Shares at 866-476-7523. 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. Welcome back, folks. So our next request is to take a look at Netflix. This is somebody that is long or is trying to get long. So if we look at the daily timeframe chart here for Netflix, what do we know? We know that today price started pushing lower with less relative energy. And what we also know is that on Friday, Friday generated a hammer candle out there. And what we know about a hammer candle, we love this rhyme is that if you see a, well, here's not, this isn't the rhyme. But if you do see a close below the bottom of a hammer candle, now we got the rhyme. If you're long, you're wrong out there. So just be careful. Now we do have the potential of a bottoming signal on the daily timeframe. But what you're going to need is some type of bullish reversal candle to confirm that pattern could come as early as tomorrow. So it's got the potential there, but the, you're trading below the bottom of its daily profile. That's at 312.60. That's not good. We have a close below the bottom of a hammer candle. That's not good. Price to move a lower doing with less relative energy. That's okay. Good. But not until you see some type of bullish reversal signal out there. And price is trading below Stevie's red line. That is not good, especially because the bounce that Netflix had. So the line turned from green to red back and it looks like July 18th or the 19th. And then you had a test of that red line on the 26th and the 29th. Both of those were a deflection lower. That's the Stevie's oscillator and change line that tells us the price oscillator is below zero and falling. That's never a really good thing out there. Price out here for Netflix, if it does continue to push lower out here, we would look to the weekly timeframe chart. And the weekly timeframe chart, what we also know is price is trading below the bottom of its profile. And this suggests on a longer term basis, an immediate term timeframe, that what price is doing is pulling back to its breakout area. And that's at $256.58 to be exact out there. So it looks like over the intermediate period of time, until the daily chart gives us that bottoming signal that instead Netflix wants to trade lower. If we look at a monthly timeframe chart out here, we don't have a topping pattern or a bottoming pattern. We do have is the bottom of its monthly profile. And that's at $251.83. And it is a bare structured profile, meaning that the center line at about $325 is closer to the top, which is at $374 than the bottom at $251. When you start trading below that center line of the monthly timeframe out here, bare structured center line, it says its sellers should have the energy to be able to push price lower. So short of a confirmed bottom pattern inside Netflix on a daily timeframe chart out there, I say you've just got to be careful. You got to be careful. And I really want you to do, if you're just, if you're trading, it's a different story. And we're truly, in my opinion, in a trader's marketplace out here. But I don't want you to overlook is really where we're at. I hope as much as I can to make this simple, the interpretation of the market. We knew, you and I knew. We all knew that we're in this, we headed into this unfavorable seasonal cycle that typically identifies atop towards the end of July. So we know that. We know that that unfavorable seasonal cycle lasts until the middle of October. So we've got that going for us. And then what we had going for us was all kinds of topping signals coming into play at the same time that that was taking place. Now, those topping signals were way ahead of Trump's tweet out there. It's just the other folks on these other media channels that really don't recognize patterns that are associated with highs and lows out there that are always looking for some reason to be able to push and to sell out there. We don't do that. I'm not selling you anything other than, hey, pay attention to these patterns. You go from the June 3rd low in the ES mini up to its high out there. It's all time high. What does it do with wave number seven? That's letter number G. Price is pushing higher. It does it with less relative energy. Generates a bearish reversal signal. That gives you another sign of a top out there. Now it says that over time, what the ES mini should do is target the 27 to 44 level. I'm not saying it does it tomorrow. I'm not telling you when it's doing it, but we're in the consolidation pattern. Everything was lined up, everything was lined up to just simply say, everything was lined up to say, hey, it's not just the ES mini. It's the NQ. The NQ was making the same kind of patterns, although in this case here was a nice three drive to a top pattern. Now in this NQ, it's already busted through a key level of support, which was 7743. That's where it had last broken out. Now today inside the NQ and the ES mini, only day number five of a possible TD set up nine count. Whereas in the Dow, we took a look at that. And maybe I did that too quickly for you. I don't want the hocus pocus out here, but here you're going to be in bar number eight. Remember, it could be bar number eight, nine, or the bar following nine of this pattern that can help us to identify a bottom or top, in this case, here a bottom. This says short of that, 24A26 is where it's going to be. And Ruby, thanks for just mentioning the rate cut out there, because there was another thing that was also going for us. Remember you got the talking media heads out there wanting you to believe, wanting you to believe. And this is where I don't really get Trump, because he needs, he needs to listen to our shows here, because the reality is equity markets move higher when interest rates are moving higher. Equity markets move lower when interest rates are moving lower. Just go look at the long-term patterns out there. It is so evident. I don't know, you know, I don't know what these guys are smoking. I don't know what they're drinking. I don't know what they're looking at out there. It is just, it's idiocy, if I can use that word, because I think that's an okay. So Ruby, they're going to cut interest rates. It is not good for the stock market. That is not how the stock market works. That is not how it has worked historically. We can go back for 20 a quarter of a century and see that out there. And I'm giving you not the day-to-day move, not interest rates get lower today in the market moves. I'm giving you the larger view of what takes place inside the market out here. So there was just simply all these things that are going for us. So we're in this consolidation until we see some other change to patterns that are out there. It doesn't matter about tweets and this and the other thing out here. I'm just going to trade it based on the patterns and the numbers out there. So much for that. Okay. So let's see if there's any other questions that have come in. It looks like we've covered everything out here. I think that, yeah, I don't see anything else. I don't see any questions inside the Tiger's Den. So what else, so what do we go look at out here? No, I don't want you to interpret what I'm saying here as you should sell everything or you should sell everything today. I'm absolutely not suggesting that to you at all. I think the thinking should be more like Tom's that had written into us where he's looking for some type of short-term change out there. And the reason is we really, we reviewed it, we discussed it, a tad, but it's really with regard to the mere fact that you now have this dislocation of the spotball tunics trading at $22.78, all above all of its forward futures contracts. Folks, not saying it's happening $1.50 in the afternoon, but that pattern has always led to a countertrend rally or a bottom. If you want to sell, wait for a good countertrend rally. We'll be right back. Since 1984, Basel 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, Basel noticed that prices under most circumstances virtually always had a certain number of legs to the upside before declining sharply. Later, Basel found that computer software which included the standard market technical indicators enhanced the degree of accuracy in 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, Basel Chapman advises his subscribers of his expert market opinion each market day with his opening call newsletter. Right now, you can get a two-week free trial to the opening call, Basel's daily trading newsletter, by visiting the front page of TFNN.com. Cancel at any time during that trial and pay absolutely nothing. Get your two-week free trial to Basel's newsletter, the opening call today by visiting TFNN.com. HUI, GDX, The Dollar, Bonds, South African Rand, as well as 25 different mining equities with specific buy-sell recommendations. As of April 1st of this year, the Gold Report currently has eight active positions with an average unrealized profit of almost 8% for each open trade. New subscribers get a 30-day money-back guarantee so you have nothing to risk. For all the details and to start your Gold Report subscription today, visit the front page of TFNN.com. Don't let Gold's next big run pass you by. Sign up today. We take it every morning. Primal Edge, formulated and approved by Niko and Paige of Living in Primal Lifestyle. Buy it today for just $89. Click on the Primal Edge banner on the front page of TFNN.com. This is David White. Stay tuned because coming up next is the power trading hour right here on TFNN. Welcome back, folks. I just went ahead and pulled this chart up on the screen for you so you can see it with your own eyes. Your eyes will not lie. And the top portion of the chart is the short-term interest rates and the bottom portion of the chart is the S&P 500. And Ruby, thank you. She wrote into the den that the chance of 50 basis point cut is up to about 40% in September out there. And if that's the case, then I will say that that will be something that will go ahead and push the markets lower into that October timeframe. The market isn't stupid. The market recognizes when interest rates start moving lower that there's problems in River City out there. That is what this chart tells us. This goes back into the 1990 timeframe out here. Interest rates have been rising since 2015, well, up until just recently out here. And that's been good for the S&P 500. It has always worked this way. It will always work this way. And the markets, Mr. Market knows this. It's just these other folks that just read from some prompter or don't really look at charts or just simply want to ignore the facts that they just all drinking out of the same pot of God knows what. So this is just simply the way that the markets work. So what are you gonna watch for? What are you watching for overnight? What are we watching for now? Over the course of the next couple of hours, we're really watching for some type of nice push lower. And hopefully on those short-term timeframe charts when that happens, it'll trigger some type of bottom signal on the 30 minute, the 60 minute, the 120 minute timeframe chart that will be the signal of a countertrend rally that should ensue out there. But without that happening, no bottoming signal. Well, price has lower targets out there. So folks, thanks so much for being here. Stay tuned because you've got another great several hours ahead of you. You've got David White coming up. Your favorite polar bear, my favorite polar bear, I understand Tom is out today. And you've got Larry Pesevento covering for Tom from three to five. And I'll be back with you tomorrow on what might be turnaround Tuesday. Have a marvelous Monday. Take care.