 the trader's edge. With Steve Rhodes. At one eight seven seven nine two seven six six four eight four internationally at seven two seven eight seven three seven six one eight. The trader's edge now Steve Rhodes. Good afternoon folks welcome to the August at seventeen the terrific Tuesday edition of today's trader's episode with Steve Rhodes. Yes, I have a great day today with Steve Rhodes. Who absolutely knows that each of us should always be pioneers of our future versus prisoners of our past open up there's having a great day let's make sure we have an extraordinary one of the easiest way to do that. Always remember that life is happening for us. Not to us. That's right. We need to make that one little two by four shift. Well means we can find the gift in every set of these markets will go figure out what the bulls and bears what those buyers and sellers are communicating to you and I just past one o'clock in the afternoon. I want you to know I'm absolutely grateful for your presence here. The more important than that. That's this during this next 60 minutes I'm here to serve you so feel free to pick up that phone you can dial on in at 877-927-6648 if you can't dial in well we've got you covered there too but send an email early send it to Steve at TFNN.com and inside that subject heading if you'd be kind enough to put radio show question of course in our Tiger's Den any ping will do so let's go ahead and get this show started on terrific Tuesday of course this is Tiger. Financial News Network I'm Steve Rhodes welcome to Leshow right now all the U.S. Industries trading lowered Dow's off 460 S&P 55 Nasdaq 207 Russell 45. Let's skip let's skip let's skip that you can see it on my screen. The key is the question is what we want to understand is hey where is support. Right is support being broken. So let's begin going through that process out here let's begin by take a look at the four equity future contracts out here and here what we've got on our screen with the exception of the Russell 2000 are just simply the daily profiles and as we take a look at the yes many that's in your left hand panel up here maybe what I'll do is I'll just turn price off just for a moment so give me a moment here and then it'll just be a little bit easier maybe more visible for you to take a look at where that new profile is at so there you go you can see a brand new profile now just like yesterday when there was a new profile that was forming we couldn't get confirmation of it until six o'clock that doesn't mean that the data that's here isn't worthwhile it is we're using Stevie's advanced offer tool so but right now what we know and this is shifted around but right now as we speak their support at 44 18 if you're to ask me based upon this profile where is it that the ESP any on any kind of natural pullback should find support they answered me 44 18 so put price back up on the screen and where are we trading at 44 20 so the case of the yes many right now support is held we can do the same thing with the Dow or the NQ I should say although I don't need really need to turn price off there you can see that price yesterday and today same thing consolidation remember we talked about when those new profiles were forming now they were confirming for us a consolidation market that's where we're at right now and remember that's always where you've got something good for the bulls and something good for the bears this is a intraday bonanza out there and so if you take a look at the NQ doesn't mean that price can't break through up but we've got to go with what we have right now what we have right now is all prices done inside the NQ is pull back to test support now we're going to go take a look at the intraday chart to see if there's some bottoming signals there especially for those that are short but if you are short and don't ignore the bottom of these profiles where we have support we go take a look at the Dow equity I mean you can do whatever you want to but you're playing with danger by doing that this is giving you a competitive edge if we take a look at the Dow it has a new market profile that is also shifting out here it needs to close below 34 949 to even suggest some type of short term change in trend so the Dow is not back there if you take a look at the so-called weak link out here all the weak link is done that's Russell 2000 is pulled back into two levels of support the range of its bullish structured daily profile that's at 2136 to 2155 but what I also have out here is the bottom of its weekly profile and that is where price found support and that was at 2149 so I want you to look at these charts I want you to memorize these numbers out here because they're going to assist you with interpreting what the market is communicating to us and if you want to know what that interpretation is as 111 in the afternoon it is nothing more than the ES and the NQ pulling back to test support the Dow has to be able to get all the way back down to support but the Russell in essence has done that's all that's going on inside the market as we speak at the moment now there's additional things out here that we've got to pay attention to one of those additional things is the spot volatility index right now the spot volatility is trading out at 1901 it's up $2.89 more importantly it is a 17-18% one day rate of change why is that important because what we do is we take a look at this chart here the top of the chart is the S&P 500 the bottom of the chart is the one day rate of change of the spot volatility index and that's the panel that's just above it so what do we know well what I like to do is I like to pay attention to those one day rates of change above plus 10% or below minus 10% why above plus 10% says we have a bouncer bottom on the following session out there those are the blue arrows that are on my screen you think it isn't so or it can't be so I guarantee you the sentiment that was going on on the day of July 27 as the S&P was pulling back and the spot volatility was going crazy it had a one day rate of change by the way of 10.13% everybody thought the sky was falling and that was the end of it was that the end of it was that a bouncer or a bottom signal if it happened before and it's happened many times before many hundreds of times before this tool where you get that one day rate of change now you have to put that together with the equity future contracts out here so let me change screens give me a moment to to pull this off let's go to the we're just going to go to the 30 minute chart out here this way I can show you how to put this together come the end of the trading session that's assuming that you've got a one day rate of change above plus 10% no guarantee that will happen but if we do what you'd want to do is you'd want to go take a look at the first place that I would say oh what do I do I went to the wrong screen sorry about that that's a that's a daily time frame and what we really want out here is we want the you see if this is it did I do it again son of a gun Stevie that's that's got to be it's that's that COVID thing it's got you all confused I can't figure out which one is my screen out here so let's try this one there you go so now you've got the 30 minute time frame charts and that's where I would simply suggest that you start let's assume that this was four o'clock and you were saying hey Steve oh give me some type of feel for whether we're going to have a bouncer bottom what we'd be looking for our bottoming signals on these equity future contracts preferably all four of them to give us some kind of synergy well if we take a look at the ESMIDI right now as that was pulling back into support of that bottom of the profile you see that that was forming bar number eight of a TD9 count let alone I've got wave number seven that's letter G out there both of those either of those can be bottoms that's what you would be looking for now it's only one 14 it's not four o'clock so what do we expect or anticipate I'd expect a bit of a bounce and I'd say the ESMIDI should bounce up to about the 44 36 level that's its oscillator and change line you can see how the oscillator and change line has acted as resistance all day long no reason to think that it shouldn't do it again so watch a bounce we're at 44 23 watch that 44 36 hey was the bottom of that profile important or not I would say yes and again take a look at the NQ what do you have out there roads meant to indicator signal you've got a TD9 count pattern out there and the Russell 2000 you've got a roads meant to indicator signal those would are what you'd be looking for come four o'clock that spot ball analytics has a one day rate of change greater than plus 10% you're right Steve Rhodes started his trading career as a student almost 20 years ago and the student has now become the master of the 18 and barely missed that mark again in 2019 finishing it number two for the year an amazing accomplishment Steve Rhodes is committed to sharing his techniques and knowledge with anyone who wants to learn and he shares his vast amount of trading knowledge every day in his mastering probability newsletter Steve's award winning newsletter mastering probability is delivered every trading day you'll receive access to seven of Steve's educational webinars absolutely free at TFNN all our newsletters come with a 30 day money back guarantee so you have absolutely nothing to worry about visit TFNN.com and try mastering probability 30 days risk free today TFNN educating investors what's separating you from the most successful men and women on Wall Street that's right information gives us the perspective we need to place the right trades at the right time the TAS Profile Scanner is the premier market profile based 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questions live from around the world from the moment the market opens until the closing bell sounds Tiger TV has eight different shows with expert hosts to help you make the right moves with your money watch online at TFNN.com or on TFNN's YouTube channel and become the investor you were born to be TFNN educating investors call now toll free at 4-8 internationally at 7-2-7 8-7-3 7-6-1-8 Welcome back folks so one last thing to take a look at in the equity markets before we start looking at requests that have come in this is the New York Stock Exchange and the center panel is the Advanced Decline Oscillator the Advanced Decline Oscillator is a difference between the 39 and 19 in this case here it's a daily time frame chart so that's what the Advanced Decline Oscillator is now it's a cool tool one of the cool elements about it are when price gets the oscillator that is down to the minus 150 level or to the plus 150 so we got plus 10% in the VIX or the minus 10% in the VIX excuse me the Advanced Decline Oscillator we're looking at the plus 150 minus 150 now price right now or the oscillator reading to minus 150 and it wouldn't take too much to really do that come days and depend on how the market trades you're in oversold territory so put that together with the one-day rate of change and spot ball till next watch those support levels on the daily time frame for those profiles that's how you really put what the market is communicating to you and I at least right now as of 1.19 in the afternoon so let's go get to some of our questions to take a look at ticker symbol XL so give me a moment to get to to get to that X excuse me sorry about that don't worry I've got liquids here we can consume those in a moment if we need to so XL is and the question is what the question is questions and comments bargaining bottom fishing out there well this is certainly as far as every shareholder is concerned the actual low on this instrument is $5.42 it's trading at $5.53 right now it's below profiles daily weekly there's not enough data from a monthly standpoint so let's pull over Stevie's other charts out here James and see what we can see on a daily time frame we're looking for some type of bottom signal we don't have it now I say we don't have it it's letter G the only way that gets confirmed is with a higher low so the earlier that would be confirmed would be tomorrow so it does have the potential for a bottom signal it's not the strongest of signals but it's a signal nonetheless would I go bottom fishing here no you know it'd be Jimmy it'd be the same routine let's say that this was a bottom signal wave number seven letter G then what you and I do is we go over the short-term and see what this level is to fail well here is the 30 minute time frame chart the 30 minute time frame chart shows the potential of a TD nine count that's going to get negated quite frankly because of where price is trading right now but what it will do is it will generate a roadsman indicator bottom where it appears that way it's got nine minutes to confirm that it looks like enough number seven potentiality if that's even a word out there if we take a look at the 65 minute chart you've got wave number nine that's already been confirmed so there would be a second type bottom out there look at the weekly chart weekly chart says you're in bar number eight of a TD nine count you know that's got some potential there so yeah Excel has some potential here for some type of a lower a bottom I don't even know what they do what kind of sector it might be in for this to be is this just the worst of whatever it is inside a sector G I don't know but you really should also try to understand what sector Excel fleet corpus in and see what it is doing but yeah it's showing some potential signs of a bottom that's wave number seven and those short-term time frame charts ticker symbol Excel let's go to our next question next question come in from Mike Mike says hey Steve Bitcoin all right does your system indicate a TD nine top on August 13th on the daily time frame chart well let's go find out what Bitcoin says now I'm going to go ahead I've got the continuous contract up here that's going to not change the TD nine counts I would hear your question specifically was on August 13th no the answer is no August 13th I show as bar number seven Mike so what I do show is yesterday was bar number eight of a TD nine count but this TD nine count as we speak right now is going to go away it's going to vanish if Bitcoin were to close here which is 45 570 in order for Bitcoin to have a TD nine count top today price must close above 46 310 46 310 negated now price may be pulling back and is likely pulling back Mike to its oscillator and change line and that's in the 43 909 area your second so that was your first question we got that answer the second is what are the areas of support where I ought to consider adding to your position so it really would have to be let me do this here I don't I said the August contract I don't know when you're trading Bitcoin 21 so it's good give me a second here now the reason I'm changing over to this is because the profile should should change may not change but I just want to try to give you the correct answer alright so and here you don't even see see now we're on the August contract and you don't even see a TD nine count pattern out there so now that makes me ask the question what is it that you're looking at Mike you didn't put it in here with regard to the August contract your area to consider person is between forty three oh twenty one and forty three eight twenty two now I would be doing the exact same things that James Jimmy and I just did when we took a look at Excel which is on a daily time frame if you're coming into an area of support and you think that's a buy you know you want to come down to the short term time frames like a thirty minute chart and see some type of level of support out there it's likely not going to hold that's if you take a look what we do out here and we start looking at things like that right because we're just looking at patterns and we know how these work out here just put such a competitive edge in your in your Bailey week out there so yeah your second question was one of the areas of support let me just put up September contract for Bitcoin so let's see what that does what that shows us at this stage here and then we'll move on to the second one Mike so but you know if you write me back let me know exactly what it is that you're looking at so that's the thirty minute chart sorry let's get over to the daily out here let's populate this so the daily has a now this is September contract yesterday was bar number seven today we bar number eight but even that's the answer is to your question about the TDA nine counts doesn't exist I don't have it on my screen your buy area in the forty three thousand area forty three oh seventy nine that's on the September contract so Mike I hope that helps you out thanks much for writing in next question coming in from Allen D Allen says Steve the PFE chart is indicated a very long-term A to B equal CD breakout to the long-term chart and let's open this up and looks like what we'll do is we'll come back to this chart I'll wait till we I'll wait till we get back so that you can see the patterns that we draw in here to assist Allen with regard to his questions which we have any questions if you're a fun trading the markets but having trouble finding like-minded individuals to discuss your trading and investment ideas with become an apex only at tfnn.com the Tigers is an exclusive trading room where successful traders from around the world come to exchange trades and ideas join the and surround yourself with the sharpest minds in the trading world subscribers to the Tigers are also the first to have their questions answered live on air and can privately chat with our host live during their shows interact with ideas 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tfnn is excited about our new software charting program the art of timing the trade chart allows you to scan thousands of stocks for Fibonacci formation setups including guardleaf abc's butterflies and much more the art of timing the trade chart 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 prices available at only $79 a month we are so confident that you're gonna 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 welcome back folks or take a look at Pfizer PFE is a ticker symbol this is for Alan D and Alan was talking about the larger picture first and larger picture he's got an A to B equal seed I just went in and drew that in for you the A point being the low from March of 2009 the B point being the high out here from December of 2018 retracement into the March of 2020 time frame and you've got a one to one A to B equal seed that would give you a price projection of $59.46 it's going to have the volume as long as price close about $44.05 so yeah $59.46 is a price projection I'd say $68.45 is also another price projection out there we know that price is above its all time high or its previous all time high that was all the way back in 2000 in 1999 so it took Pfizer a long time to get back to its highs from 1999 maybe Allen maybe that's a signal don't get married to Pfizer out here if it didn't like that before it could do it like that again I know that's not your question but there aren't a lot of charts that you and I pull up on our screen right now to say hey it's just getting past the 1999 eyes that is unless we're overtaken look at what's added to the position so where do you add to it well if we take a look at our other profiles that's the monthly chart weekly and daily those profiles are so far down we can't use that 4213 would be on the daily timeframe and you're not going to ride that down I wouldn't believe you're going to ride that down to 4213 so that's not going to be the level so we've got to pull over a white background charts and as we do that what we're looking for is well first we're going to look at that we're going to look at the nine of a TD nine count now we know that on a TD nine count that can generate a high on bars nine or the bar following nine so that high short-term high could take place tomorrow or could be taking place as we speak right now we also have wave number seven present I've got two of them so yeah you've got some pretty printed 47 63 and that would be our first target level now just like Jimmy and I just like shoot who was it before Mike I believe it was we were you know you would you want to do before you add to the position just because it pulls back the oscillator and change line that's not necessarily me and that's a time to fire away you've got to go look at what's going on the short-term time frame charts but to give you that target area line. And that'll change as price moves up and down. So don't quote me on 47.64. I'm giving you the general area. But if price closes below the oscillator and change line, then that starts, then we need to see what kind of patterns are in play. As it's doing that, is it bar number 5678, 1, where are we at? And so, but it would be the oscillator and change line. You'd see some type of signal in the short-term timeframe. And that would where you would add to your Pfizer position out there. But be careful. What's on the weekly timeframe chart out here? No signal there. No signal the top. So it's really the daily. Same thing on the monthly chart out there. So it's really the daily right now. So watch for a potential short-term top that's either happened or will happen by tomorrow. And I hope that helps you all. Thanks so much for writing in. The next question that's coming in is from... Okay, Gary, we already did that. That was on Michael. Michael W. Can you please look at the 30-year Treasury bond as possible long? You're late on that. Let's take a look at... Let me get to here. Yeah, I mean this is as good as anything out here. So here is the... Well, here is the September contract on the left-hand side. And I've got my synthetic version of the contract on the right-hand side. But you can see we've got a trend line. You got price getting back towards recent highs out here. So you're asking for a possible long. Your possible long would have to be so short-term out here. So I don't see that as we speak right now to take a long... I'm not saying that it's not going higher. I'm saying that you reward risk because you're back to prior swing points out here. It's just not worth it. Now, let me pull over the daily... And I've got daily 10 and 30-minute chart out here for the 30-year. And on the 30-year for the daily timeframe, nothing more to add to it, but I'd really be hesitant. If you're asking where is it you could have or should have taken a long position, inside the 30-year treasure, I'd say it would have been down at the 163 level. 163 was the bottom of a bullish structured profile. So that would have been an area. And of course, at that stage, you would have seen some type of bottoming signal going on on a short-term timeframe, like a 10-minute chart. Right now you've got a TD9 count on a 10-minute chart. So we should see the 30-year treasury pull back a bit out here. That's on the 10-minute timeframe. The 30-minute timeframe, I don't have that same topping signal with prices right back into a resistance level. So I just don't see Michael the reward risk to take a long position inside the 30-year treasury, which also means a TLT. I don't see the reward risk to do that now. So I hope that that helps you out. Thanks so much for writing in. HD writes in, and HD says, would you please look at the OIH and the IWM? You're long. Absolutely. So let me get, that's the oil service holder trust, OIH. And let me get back to the black background charts. And let's get our three timeframe market profiles. On a daily, we've got a price below the bottom of a bullish structured profile. So HD, this is going to look like day number two below that. That's not good. Price is below the weekly profile. Shoot, a weekly profile just formed above price. That's not good. However, if there's a bastion of hope out here for the OIH, it's going to be the monthly profile. This is a brand new monthly profile. It is bullish in structure. And this says if the OIH is going to find support, it should do it at 173.43. The actual low so far today, is that today? Yeah, I think that's today 173.38. So price here, HD said, would I take a look at the OIH? It's possible that it is at support. Now, that's on a monthly chart. If the monthly chart's at support, what should the daily chart show us? Some kind of bottoming signal. So let's go up and open up the white background charts. What do we have out here? Well, it turns out, HD, the price is moving lower, doing less relative energy as price pulls back to its breakout area. 173.71 is the TD9 breakout level for the OIH. Now, do you pull the trigger now? Absolutely not. You wait for some type of bullish reversal candle. If you get that, you then have a confirmed rose mint and indicator bottom, which should take price up to about the 196.78 level, maybe takes it beyond that. If I look at the weekly timeframe chart for the OIH, what do we have? We are in bar number eight of a TD9 count, and we know that bars number eight, nine, or the following nine, can be a bottom. So the weekly says, hey, I might have a bottom out here. The daily says, I get a bullish reversal candle, I'll have a bottom. The monthly says, I'm back at support, which is the bottom of its bullish structured profile. So HD, I think you're looking at the right place. Now you just need the right signal to confirm entry into your long OIH position. Thanks so much for writing in. We get back to this break. We'll go to our next question coming in from Michael P. Michael wants to take a look at the QQQs. Steve Rogers with CFN. 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. Whether you're looking to sell your current property for maximum value, or you're in the market for a second home or investment property, Tiger Realty has the experience across all areas of real estate in the Tampa Bay area to help buyers and sellers make the most informed decisions across all price levels. 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We're going to look at the Qs for you and then we're going to go take a look at the end Qs because that's really where you're going to get your information, your answer from. Now, here we're taking a look at the daily profiles. What we're looking at daily, weekly and monthly. The only one that is in play as we speak right now is the daily profile. I'm going to ask you this question as you take a look at it. Price is sitting at $363.65 in the bottom of the daily profile. That's where buyers are at or $363.58. Is this the time to go short when price is pulled back to support? Now, I know that you don't have those profiles, so without the profiles, it'd be difficult to answer that. I get that. If we did some naked charting out here and I just simply, well, let's do some naked charting out here. And as we do that, we're just simply going to turn off. So give me a second here to turn off these tools and let's turn that off. Let's turn off this. Let's turn off this. And so now we're doing some naked charting. And if we're doing some naked charting out here, I don't know how you go ahead and understand or make a decision that prices back at support. I couldn't do it. I mean, we could start taking a look at volume and things like that and the swing points or retracement, but we would have no idea we're at support. So we don't do a lot of naked charting here. We probably should start with naked charts and then just add the tools. Now it'd be a little bit easier for you to then understand the value and the importance of these tools out here. And you're seeing it right now. So this is actually, I'm not saying to buy, but if you're asking me where are the buy the dipsters inside the QQQ series ETF, well, we already know that because we've got that competitive edge, that competitive advantage out here. Now the current profile that's in play here, Mike, this formed above the prior profile. So from a trend standpoint and a profile standpoint, things are remain bullish. So the answer to the question is now the time to, if you wanted to sell the QQs, you do that at about between $367.54 and $369.91. Now you might say, oh, come on, Steve, oh, give me the exact price out there. Why are you giving me the range? The reason I gave you the range is because it's a barestructured profile and sellers reside in that range. They don't give me right to the tick, but that would be the range to sell. Now if the QQs close below the bottom's profile, then we may have some kind of short-term change in trend. But at 1.45 in the afternoon, that is not the signal that we have. Okay, that's one chart to look at. The second chart out here, Michael, is the NQs. And you can see the NQs have been consolidated with inside their daily profile, $14.919 to $15.136. Prices trading at $14.915 as we speak right now. So again, not a signal here to go ahead and take a short position. Now let's go over and take a look at my eight-panel chart for the NQ. This will take me just a moment here to get this set up. That's natural gas. We want the NQ out here. So, okay, we got through step number one. Now let's try step number two, which is finding the right screen to share with you. Okay, so now we've got our eight-panel chart out here. We begin by take a look at the monthly timeframe in the upper left. On a monthly basis, we're going to have bar number eight of a TD nine count, prices above its oscillator and change line. Maybe this is going to form a top either this month, next month, or the month after. So that's August, September, October. Think October. Think October, because that's likely what I believe the markets are communicating to you and I, is that instead of the markets moving lower into October, they're going to move higher into October. And it fits right in here with the narrative of the NQ on a monthly basis. Now, it doesn't fit into the narrative on a weekly basis. So, weekly says, hey, Stevo, nice try out here, but maybe that's not going to happen. So, as we expand out the weekly timeframe, what we have is a TD nine count that is in play out here. You've also got a potential rogement to indicator signal this month, but the month is not over. It's only the 17th, so I don't want to go there. And this would say if we do get a intermediate term top, you could see price fall all the way back to 13462. Now, Michael is saying, wait a minute, Stevo, you told me not to go short. Exactly right. He told you not to go short. We're starting to explore the larger picture so that we can take a look at that and get that signal down. So, knowing that that weekly has that potential, a couple of different tops out there, that's why we want to watch the daily timeframe. We don't make that decision at 1.47 in the afternoon. On the daily timeframe, there is a rogement to indicator top, but that has led to nothing more than that sideways move that we have out here. Even if price gets below the bottom of this profile, there's still some more sideways type action, maybe price is just pulling back to 14786 or so. But let's look at now the intraday timeframe charts. What do we have out here? The 30 minutes has a TD nine count bottom and a roads wind to indicator bottom. Now, that says, watch this morning's, or today's low, that low of 14898. If price closes below that, that suggests a further move lower. Michael, on a 60 minute chart, it's triggered a roads wind to indicator signal so far on a 120 minute chart. You're in bar number eight of a TD nine count. By the way, the last time price was down here in the NQs. It was bar number eight that identified the bottom. Those say no, not just yet too early. And the 240 and the five hour timeframe chart are not providing us with any kind of bottom ish type signal out there. So it's just the 30, the 60 and the 120 and then the daily back at the bottom of that profile. So to answer your question is now the time to go short. I can't tell you to go short when price is sitting at support out there. So I hope that that helps you out with regard to the Qs and what their message is to us. I suppose that it wouldn't hurt for you and I to go take a look at Apple. All right, because so let's take a look at one of the one of the leading. Let's do that here. So give me a moment. Let's come back to our three timeframe charts. Let's just see where Apple is trading at AAPL in relationship to its profiles. Apple is still above the top of the daily profile, Mike. So that would be another reason that I would be very cautious on trying to take a short position while the Qs are sitting back at support. Now maybe Apple gets back inside its daily profile. In order to do that, price would have to close below $149.01 or $149.12. So it very well may do that, but it hasn't done that as we speak right now. So just sit tight. We've got a caller on the line. It's Ted in Boston. Ted, thanks for calling. Thanks for holding. How are you? Hello? No, he's not on the phone. Oh, so okay. I see. Oh, I got it. Okay. Didn't want to say hello. Just called to say hello, but didn't want to say hello. Hello. And the question is, Ted from Boston is calling for short-term gold and the GDX, but he's not able to stay on the phone. So in the case of the GDX, let's just put this up on the screen out here. The GDX. So I do that here. You've got to sit tight. Don't take a long trade in the GDX and the miners. And here's the reason I'm going to suggest that you don't do that. Just going to try to get back to, we took a look at this yesterday. The left-hand panel of the chart is gold, which has had a really nice move off of the lows from last Sunday, last Monday out there. In fact, the rate of change has been about a three and a half percent rate of change since then. The rate of change over that same time period for the GDX is minus 0.65 percent. Ted from Boston, go back and study the charts of the GDX in gold. Go back and take a look at bottoms. Look at the rates of change. You will see that when the GDX, when the miners form a bottom, they outperform gold's rate of change by two or three, sometimes five to one, not negative. So this just says we've got to be very cautious about the mining equities out here. They're not behaving the way that they should be, especially with gold having that nice bounce. She wrote with TFNN, we'll be right back. Live every market day from 8.30 a.m. to 4.00 p.m. Eastern for free. 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They've been called miracle molecules because, like sunlight, air, and water, without them life cannot exist. That's right, Ellen. They ensure we receive all the nutrition we need to be healthy and thrive. We take it every morning. Primal Edge. Just $89 exclusively at tfnn.com. Welcome back, folks. On our screen is the energy sector, the XLE. This is for John in New York. John's question is, did the XLE bottom out? And at what price do you recommend buying it? So let's first answer his question. Did it form a bottom, a valid bottom? And the answer is yes. Let's go take a look at the bottom. It's an A to B equal CD pattern. The A point out here that I would use, I would use the high from June 10th. I'd use the low from June 21st. I'd use the high from June 23rd. So you had a one to two A to B equal CD pattern. That generated a bottom signal on the trading day of July 21st. And the reason that it did that was because it generated that rising window, that gap to the upside. That was the bullish reversal candle to confirm that bottom. So your question was, did the XLE bottom? The answer is yes. Now, that bottom just led to kind of a measly rally out here. Of course, it's a measly rally because if we take a look at what Lights We Crewed have been doing recently, it's kind of had a measly rally too. So you've got Lights We Crew that is acting the way that it should, which is following along with regard to the XLE. As we take a look at the XLE, what we see here is a wide profile. The bottom of that profile where buyers are at support is $46.98. The center, which where buyers believe is fair value with inside the range is also at $46.98. Your specific next question was, where do I recommend buying it? $46.98. It prices at $47.83. Now, I'm not saying you're going to get a ton of movement or anything out of here, but you've got the bottom signal. Price comes back and tests the key level of support. The bottom of the profile. And at $47.14, that happens to be the bottom of its weekly profile. So there's a lot of support there. It's not a guarantee that it holds, but you want to be able to buy support. You want to be able to buy where the buyers reside. And that's why during this hour, you have the unfair competitive advantage of knowing where the buyers and sellers hang out. Thanks so much for hanging out with me. Stay tuned. Two more great hours. I'll be back with you, assuming that everything goes well on wonderful Wednesday. Have a terrific Tuesday, folks.