 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 May 15th, the wonderful Wednesday 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. How about we have an extraordinary one? Yeah, let's have an extraordinary day. And of course, the easiest way to do that, it's to always remember that life is happening for us, not to us. That's right. We knew that make that one little two-by-four shift 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 with 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 most importantly, I'm here to serve you. So feel free to pick up that phone. You can dial in right now at 877-927-6648 if you can't dial in. We've got you covered. Just send me an email. Steve at TFNN.com. Inside that subject heading, please put a radio show question. Of course, our Tigers Den, any ping will do. So let's go ahead and get this show started on wonderful Wednesday. Of course, this is Tiger Financial News Network. I'm Steve Rhodes. Welcome to less show right now. All indices, well, I take that back. All indices with the exception of the transports are in the green. The Dow is up a half a percent. The S&P up six-tenths, the NDX 100 up one and two-tenths. Russell 2000 basically flat up a buck 30. The transports are down 250, so we're going to call that a flat market out here. You've got gold trading up $2 bucks, $12.98, 30, Silver's flat, and Light's Recruit is up quarter. To the upside, lead in the charts, it's Google, $40, trading out $11.65, the trade desk up nine, AM docks, limited up six, Mon, God to be, something like that. That's up about six bucks. To the downside, it's Tran Digim Group, $17.03 and a half percent. Children's place down seven and a half, Agilent Technologies up nine, Signature Bank down six. So certainly things to look at. Of course, I want to look at what you want to look at. Only one question before I go to that's an individual stock. Let's just take a look and answer the question. Hey, why did the market bottom and when it did this morning sound like a good idea out there? Okay. All we have to do is come over to, sorry about that, is come over to our short term timeframe chart. You and I, you know, look at these. This is going to be a clean version of it. Not that the other ones aren't clean, but they just have more tools and indicators on them. We don't need more tools and indicators. If we take a look at, now, why did the Dow Equity Futures contract at two o'clock yesterday afternoon? We got off the air. Why did it top? Well, there were two reasons. See this green horizontal line out there? That is a resistance line. It's established by that TD setup nine count. You will see that price was hitting right at resistance bar number eight. What's bar number eight tell us? Get that the hair on the back of your neck to start standing up. Well, no matter what timeframe it is you are looking at, you see that the hair should be standing up. Now it should stand up more so if you're coming into resistance. You did get bar number nine at two thirty. The market went ahead and pulled back, pulled back to where, by the way, the red line is support. The green line is resistance. Now this morning, just get to get to the point, Steve, on a 30 minute basis, exactly at ten o'clock you got to wear bar number nine. And what's transpired so far? Well, price was able to move right through that once you get that bar number nine, it sets up your next resistance level. That was at the price point out here of the exact number was twenty five five sixty seven. Price sliced through that at eleven thirty this morning. There's price was moving into that area. There is no other than it being resistance and it is resistance. It was resistance. That resistance failed. But no, no, what we'll call topping signal at that stage, still no topping signal. Still none. But yet price has found resistance. This level, we got to take this all the way back here. This is that was a breakdown level that takes you back to May 13th and that's at seven thirty in the morning. That's where price is struggling. If price can close above that, I didn't give you the price today. I should give it to you twenty five six seventy two. That's the number to be watching. But we'll see over the course of the next. This could be bar number seven. I don't know if it will be or won't. Then you'd have bar number eight at I could complete at two o'clock today. Jesus did that yesterday too. Anyways, we can't do the bar counting until we actually get to bar number nine. But there's some possibility here. Now, that's what happened inside of the Dow out there in the case of the NQ. It did not form a nine count this morning. Instead, what price was doing right there at the same time that the Dow equity futures contract, just a 30 minute basis chart that we're looking at 30 minute time frame chart right here. This was actually nine thirty this morning. I did the NQ bottom at nine thirty. Well, prices came down, tested support. You could see you had doble ghee support out here. Take a look where price and essence has stopped. Why did price stop in its tracks out there? Because this is where the breakdown area was. It's not where the gap is. Most people would think that that's where it was. Not that the gap is not important, but that is not where the breakdown began. The breakdown began right here. This is at one thirty in the morning. One thirty in the morning. That's right on May the 13th. That price level 75, 24, 50. That will be a key level to be watching today. Look, we could go through the ES and the Russell 2000. I'll just leave those for you to go through. If you're an intraday trader and you're not using this tool, this set of tools, you've got to ask yourself the following question. Why? Well, if it's because you're not sure how to use that tool, then just go subscribe to Mastering Probability. There's a one hour workshop that's in the archive section for subscribers to the newsletter. And just simply learn it. Learn it. Use it. Use it for whatever time frame it is that you are using out there. Any wonder that on a quarterly basis that Apple top where it did as it formed that TD set up nine count? The answer, my friend, is no, not really a surprise. Just simply by taking a look at it. Okay, so we've got that. Let's go start to jump over to the question that came in because if you write in, I want to answer that question. The first one coming from Keith M. Keith M writes in, hey, Steve, I'm long RIO. That is, let's go take a look at that ticker symbol out here. That is Rio Tento. That's versus REO. That's why I had to pause there because, you know, you say RIO, I'm thinking REO. Obviously, that wasn't it. But getting impatient, long and impatient, especially after Target raised yesterday. Also, your thoughts on SPX going into Friday. So, okay. So look, I don't know when you say after Target raised. I don't know who raised the target. But let's just take a look at Rio Tento. Here's what we know before we go to the break. And then we'll come back. We'll finish this off. On a daily perspective, you don't like what you see. What do you see? You see price running in resistance at the bottom of that profile. $58.97 is a number. Price must close above. The daily chart is saying that it could be more downside movement to wear. $55.57. That's the bottom of that weekly profile. You're in between a brand-new monthly profile right now. Support could be $57.68. I've watched that $57.68 like a hawk. Otherwise, it's $55.57. Next up, we'll go further take a look at RIO on my little chart. The Taz Profile Scanner is the most revolutionary piece of trading software that you will ever try. Wouldn't you like to approach the markets with confidence? As you begin your trading day, it's likely that you'll be faced with lots of decisions. In order to make the best decision, the first thing you'll need is a strategy that will help you minimize your risks. 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You can still visit us at the same tfnn.com URL, but when you do, you'll see a new and improved homepage with a much simpler navigation, whether you're watching Tiger TV live in high definition or 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. Call now toll-free at 1-877-927-6648 internationally at 727-873-7618. Welcome back, folks. We're taking a look at Rio Tinto for Keith out here. So, Keith, here's the deal right now. And I know you're impatient. You're long. I don't know where you're long from. But when we take a look at Rio Tinto, we know that it was below the daily profile. We also know that, for example, yesterday and last week, when Rio Tinto moved tire where it ran into resistance was Stevie's Green Line out here. That Green Line right now is priced at about $58.67. You're trading at $58.27 as we speak. So, if you want to be less patient, you want to see price close over Stevie's Green Line. In lieu of that, you do have support. We just took a look at the TD Setup 9 count. We looked at the resistance and the support lines. It works this way for all instruments. For the daily profile here, that says that your real level of support that you would want to be watching, that formed on the low of March 26 out there. That's where the real breakout inside Rio Tinto began. And that breakout level is at $56.64. So, I would say as long as price remains above $56.64, if that was the number I just gave you, I think that it was, then you're probably okay. Now, there is another level just below that. And so, that would be your final level of support out here. That's from February 15. That low is $55.88. Do I see a pattern here that says that Rio Tinto is about to move higher? The answer is I do not. You do not either. It's below Stevie's green line. It's below the bottom of the daily profile out there. But that doesn't mean that support won't get broken or will get broken. It just means that support to the downside, those are the levels. Those two red lines are the areas that you want to watch. Short of that, then you're looking at those targets that we took a look at earlier. That was the weekly. That might actually get you down towards that level, which is $55.57. And $53.95 on the monthly timeframe chart. With this new profile, by the way, that formed for you back on May 6, tells you that the trend changed to the downside out there. So, Keith, thanks for writing in. Oh, you asked the question, what are my thoughts going into Friday in the S&P 500? We're in a trader's market. I'm just going to make it really simple. We're in a trader's market. To me, that means what you need to be doing is looking at the short-term timeframe charts out here. So specifically, we had looked at the NQ and the YM. If you're wondering, why did price stop where it did this morning? It's a little bit harder to read. That's why I took out those other charts earlier. It was with the eight count of that TD set up a nine count pattern. And now it's actually, it's easier here, prices into resistance. So we took a look at resistance inside the other equity futures contract. You want to see how resistance works here. Take a look at those two green lines. 28, 58, 50 is the next level. Now, what I don't have, we just know the price at resistance out here. I don't really have anything that is bearish, so to speak. But hey, it's at resistance. We could begin to see some type of retracement out here. If you can get a close on a 30-minute base, that's all you would need above 28, 58, 50. Then I say the S&P 500 can move higher out here. So we do have a higher low that occurred this morning. We do have a slightly higher high versus yesterday. So those are a little short-term positives, so to speak. But we're really in a trader's market. We saw that yesterday. We see that this morning. So I would be paying attention to these patterns. If you're trying to trade them, you're asking about Friday. So that means you're really, to me, not a long-term trader out there. I'd watch 28, 58 like a hawk because it's also the bottom of the weekly profile out there. And then Mr. Z says the account to the downside, or is this to the upside? It's another peak G. Let me see here. I don't have a peak G. Mr. Z, I only have level A. And then to the downside, it was F that I had out there. But maybe we're using two different sets of swing points out there. Sorry about that. Or maybe we were talking about something from yesterday. But yesterday was we had that nine count. Remember, you were on the air and you were saying, what price would you go long or good short? And we had that 28, 58. But I said, you cannot discount. I think I said that the mere fact that we're right at resistance. And at two o'clock, we were making that eighth bar out there, that top. And that's what actually sent things lower. And then to watch this red line overnight, which in fact, that is where price hit earlier this morning. That was about eight o'clock this morning. Failed and went on and produced that nine count bottom inside the ES on the 30 minute basis. Now, these patterns will eventually start failing perhaps on the 30 minute basis. Start working better on a different time frame. But right now they're working for all of the equity futures contracts about as good as you can get out there. So Keith, I would say pay attention to the 30 minute timeframe for the ES. If you are trying to navigate what it's going to do or likely to do come this Friday. No other questions that I see out here. So come on, folks, help me out. Help me, Rhonda, right? And the reason is because when you do help me out, then that way at first it makes it easier. The show goes by quicker and then I'm giving you specific information that you want. All right, so they don't have that. What do we really pay attention to? What are we focused on? What am I focused on? I'm focused on Goldilocks. Why am I focused on Goldilocks right now? Well, the two hour timeframe is going to complete the current candle session out here. And the current candle session says, well, potentially be careful. Now, why is it saying be careful? Well, because we actually had price moving higher due on less relative energy at 9 a.m. this morning. And the current bar that we're in, it is a bearish reversal candle. It is what's referred to as a dark cloud cover. Now, it's not the strongest of the bearish reversal candles, but it's not the weakest either. And it is a reversal candle and prices below Stevie's Greenland. Now, the push lower this morning was a test of support of 1295-50. That is going to be a key area. If you see price close below that, the signal from the five hour timeframe chart is that the trend has changed. You can see the high that was formed yesterday. There was no profile. There was not a profile at that shooting star, but still that's even a bearish reversal signal. We could draw an A to B equal CD pattern in here and probably get pretty close to it. That's neither here nor there. The more important pattern is one that is taking place or took place or began taking place at 9 o'clock. This morning. So be careful. What are you watching for 1295-50? Close below that on a two hour timeframe. That would be to 2 p.m. That would be at 5 p.m. That would be at 11 p.m. That would be four in the morning. We have new profiles and so forth that form there. The dark cloud cover and this pattern is nothing more right now because there's no level of support that has been broken. That's the bottom of the box you and I are taking a look at is the kind of pattern that says, take your umbrella because it could start pouring. Could start pouring. Support has to be broken. That's at the 1295-50 level. Watching that really like a hawk. What's the one hour timeframe chart here telling us about Goldilocks? Well, we had that topping pattern here back yesterday. So you could see there it is on the shorter term timeframe giving you that rose momentum indicator top. Is it worth paying attention to? Was it also a dark cloud cover candle? When did things start romping and rolling to the downside? Well, as soon as price broke through support, the bottom of the 60-minute profile, that was at the time period of about $2,300. And then price proceeded to move lower out there. So really important day to be watching Goldilocks. Yeah, it's up about $40. So what? The question is, is it going to pull back and is it going to break support at 1295-50 and then break the backs of the bulls? Possible. I'll be right back. 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. The fact is, markets can be timed. And I'll teach you the exact set of tools that I use that has transformed me into one of the best at what I do. I'm Steve Rhodes, author of Mastering Probability today by clicking on the newsletter tab on the homepage of TFNN.com and get immediate access to workshops where I take you step by step how to use an extraordinary set of tools as well as provide great market calls too. Sign up today. 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 last 12, 6, and 3 months. I'll be right back. He delivers every morning. Then visit the front page of TFNN and you'll find the path of least resistance under Trading Newsletters. For all the details and to start your 30-day free trial today, log on to TFNN.com now. TFNN is excited about our new software charting program, the Art of Timing the Trade Chart. In collaboration with Tom O'Brien and using his best-selling book, The Art of Timing the Trade, Your Ultimate Trading Mastery System, David White has programmed an outstanding piece of software that will complement any trader's methodology. 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. Welcome back, folks. So Alex writes in and says, Hi, Steve, seasonal question. Mass seasonal answer, then. What kind of seasoning do you like, Alex? It would be my favorite seasoning. It really depends. The problem with garlic, who doesn't like garlic? The problem with garlic is you end up tasting it all night and then kissing somebody and they didn't have garlic. It could be kind of nasty, you know what I mean? But seasonal. So what kind of season? What would be a good season out there? Ginger. Ginger is a great. I eat ginger every day. I have a shot of ginger every morning. Talk about waking you up. Try that one. All right. Let's get to the seasonal question out here. And Alex writes in, Is there going to be a summer rally to new eyes? As if I have a crystal ball out there. Now, what Alex is asking you folks, he's asking this, because you see what Alex knows, you know, many of us know that there is a seasonal cycle to the markets out here. What I do is I kind of use these dates as guidelines. Look for patterns to occur around these dates to assist us with understanding what the market is doing. What Alex knows is that from a seasonal perspective, that price typically moves lower into the end of June and then makes a little summertime rally that lasts for about four weeks. It's pretty much a four week deal. Just like the high that occurs in May to June is about a four to five week move. And then we get something that's longer. We typically get the move from July-ish down into October. And so then you're looking at a two and a half month type cycle, something along those lines. Are we going to get that? The answer, Alex, is first, I need to see what happens as the market moves lower into the end of June. And so I would ask everybody out there right now in listening land and everybody raise your hand. Those folks that think that the market is going to move lower between now and the end of June, raise your right hand. Everybody, come on, raise your hand. I can't, I can see, okay. I see a lot of people not doing anything. Ruby says yes. And those folks that believe that that's not going to happen and instead forget Stevo's cycles out there, not that it's my cycle, I just went ahead and translated the work out there. Think that the market is not going to move lower and is going to move higher from here that we made a bottom. How many people believe that? Raise your hand. I don't know what the exact answer is. I can show you both could be correct out here. Peter says no. Hey, Peter's on Ruby's side. I got that. But here could be a reason why you could see the markets. Have they made a significant bottom out here? Isn't that really the question? And here's the answer. We don't know. It's very possible. I'm not trying to play the middle of the road here out here. What I'm just simply trying to say is that you can't ignore the nine count pattern. Are you? Now, you can't ignore it either out there. If we take a look at the Dow equity futures contract, the only one at this stage here to complete the A to B equal CD or Gartley buy pattern and Alex and Jose and Ruby and Peter and Z and everybody. If we're just simply going to cherry pick when we're going to accept Gartley buy patterns and not, then we're probably going to get into a lot of trouble by doing that. Every Gartley buy pattern or any pattern that we take a look at always works. But here you had a one to over two A to B equal CD to the downside. You get to set up bar number nine. Is there really, is it a mystery, is it not mystery meat or anything? Is it really a mystery that in fact we saw the bounce that we did yesterday? No, it is not. Now, here's one of the likely outcomes with regard to this. I'm joining the A to B equal CD to the downside. If we, oops, I didn't mean to do that. I'm going to do this. All you have to do is go back. You already know this in your mind and take a look at the move off of December 24th. Here's our first A to B equal CD to the downside. It's a Gartley pattern because it was just a small retracement from the low in December out there. And Price also ran into a level of support that blue line. That was the hammer candle out there. That was previously where there was a bottom as well as a TD set up nine count out there. I'm going to go ahead, wow, I was going to try to get rid of it. Maybe it won't let me get rid of it. Let me try. There we go. It's deleted. What else is it, Peter, that you see here? Because, Peter, Ruby, you answer, what is it you see on this chart? What is it? You already wrote that in there. O-U-L. What did you mean, Ruby? What did you mean? What did you mean about the oscillator and change line right now? What is it that you see on this chart that makes you think something, that that's something for us to pay attention to? Now, I know Ruby's typing and or is sending me a message, and I know the reason why she said that. And she is dead on balls accurate. A line stolen from my cousin Vinny. But one of my favorite lines out there may be yours too. And she's right. And what is it? So on top of, on top of the fact that the Dow Equity Futures contract made this bottoming, two bottoming patterns out here, the green line turned red. And what Ruby knows about that is that that tells us that the price oscillator, the difference between two exponential moving averages, 19 to 39 was at zero. And when it's at zero, what does it tell us? It tells us that what we're about to experience over the next many days, how many days I don't know, is we should see that line and price catch up to each other. And it won't be Alex, Peter, Ruby, Jose, Z, Stevo. It's not until we see the test there whether we know whether this Dow pattern was a significant bottoming pattern because the countertrend rally should continue to occur until that test takes place. And if that test takes place and if we see price deflect down below that red line, then Alex, the likelihood of price moving lower into the end of June, everybody should be raising their hands at that stage. And if price is able to close above that, well, this could be a significant bottom. Price could get up to Stevie's, not my green line. This is actually the TD set up green line out there, which happens to be the high from the trading session of May Day out there. May 1st, when we take a look at the Dow Equity Futures contract out here. So we have to take things one bar at a time, one day at a time out there. I do believe, and there was something that I shared with subscribers this morning, that what's going to happen is if that test does occur, my crystal ball says that would be where the countertrend rally ends and price moves lower from there. But we're going to simply have to wait it out and see what occurs out there. So Alex, you're asking about the move into July. I need to wait to see what the patterns are going into the end of June out there. And then I can better answer that question. So I hope that helps everybody out there. And Ruby, thank you for raising your hand, pointing out that oscillator and change on it because you knew what it was that was going to come next once that bar, once that line turned from red to green. Alex, thanks for writing in. Let's go to Robert B. Robert B writes in and says, hey, Steve, hey, Robert, how likely is that the S&P will revisit the bottom of its consolidation, the December 2018 lows? Well, kind of a similar response, kind of a segue, I guess, into what we just spoke about, right? The first thing is paying attention to this first test inside the Dow. I think that's the one that's going to be most important to you and I. And if price moves lower from there, then let's see where price gets to in June. It is an absolute possibility. We'll show you why when we come back from this break. 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That's TFNN.com and hit watch Tiger TV for the latest market information. Thank you so much for joining us. We'll be back, folks. Robert, when I take a look at this, these are four monthly charts out here for the four primary indices that we might trade here by ETFs and so forth. The Dow is in the upper left. S&P upper right, Nasdaq 100. Lower left, Russell 2000 in the lower right. So what do we know here? So Robert, you mentioned the consolidation for the S&P 500. The only indices that I have that's truly in a consolidation and clearly defined highs out there that have been tested and lows. Whereas inside the S&P 500, I'd really have to stretch to draw in that consolidation pattern. I don't like having to stretch and to force a pattern out here. That doesn't mean that the S&P 500 had a little slight false break to the upside out there. And really, for me, the S&P would not have broken out until it would have broken above its little rising trend line. In September in 2018 as well. But at this stage, what we know is that it's traded above the high and the low. So you've got a key reversal session out here. Good enough signal. Month's not over. But pretty good enough signal that price wants to pull back longer term over time. But the Dow itself clearly in a consolidation pattern. Price got up to the consolidation backed off right from there. And so pulling back to the bottom of that look at the Russell 2000, the lower right-hand side. You can see that that is stuck based on a swing point from four months ago, 1602. So clearly that's not doing anything. It's just moving sideways by the way. So when I say it's not doing anything out here. And the NDX 100, the nice break that it had key reversal, what looks like key reversal session potentially this month as well. And back below the highs from back in, when was that October? October. So we're at 7756. So that says, okay, seasonal cycle. Maybe we get this countertrend rally up to Stevie's green line and then we go from there. Here's where I think you start paying attention to what the message of the S&P 500 is. And this is the monthly timeframe chart with its horizontal trading ranges out here. And when we take a look at that really good, well-defined tops and bottoms that have contained price, if you look at the 2009 bottom in that 675 level out there. Folks, can you believe this? I still get emails almost daily. They mostly go to junk out there with somebody telling you and I that the S&P 500 is still headed to 666 out there. Okay. I don't see that happening today or tomorrow. All right. So we're a little bit safe there. But here's what I want us to pay attention to. And that is at the first level of support that really needs to break Robert in order for price to continue to pull back. And that's going to be this 2818 level out here. You can see the price in this month and pull back and test that level. It's a rebounded off of that just slightly so we're 2852. But if we do see a close, yeah, it is a 6666 is definitely a magical number for some adults. I suggested that this individual maybe get a different hobby out there. But that's neither here nor there. They here is watch 2818 Robert, if we see a close below that on a monthly basis, then what I would say is price would pull back or is likely to pull back to 2604 out there. That's the next horizontal trading range on a monthly basis, even though we've got this like, hey, it couldn't break through the highs out there. The price is really done is pulled back to test support. But if it does close underneath that first level, second level then opens up and you got that little rising trend line off of the lows from back here in 2016 to the low out here in 2018. And that may be where price would be headed on any kind of further pullback. Is there some kind of major significant pullback going on? It all depends on how somebody measures it. Are we in a bear market? For God's sake, really, folks, we've got confirmed A to B equal CD patterns that are going to take price higher. We're in an unfavorable seasonal cycle and so maybe we've got a pullback that's going on. Are we in a bear market? I mean, I heard gunlack on there or saw something from him whenever it was calling that we're in a bear market. We're in a consolidating market, especially if we just simply take a look at the Dow out there. So Robert, that's what my eye sees. I haven't seen anything like this before on these lines. This is just something that's automated as a set of tools to help you and I out. And really we have to take the information one day at a time. I don't know if the S&P 500 is going back to 666. I just know that one day at a time, if that's your thought process right now and that's how you're trading, you're not being present in the market. And it's really all about being present. And our role, yours and mine, is simply to be able to take the information that we need to use to change, to use that information to then be able to interpret the market correctly out there. That's really what it is that we all here at TFNN try to do, not try to do, we do it on a daily basis. So let's see what Timmy has to write in. Tim, I'm sorry, I didn't mean to say Timmy, but I like Stevie, so it's pretty easy for me to go down that row. But Tim writes and says, Steve, you had a very fine low risk call yesterday. Do you see a similar risk price shorting the spy today? Or has that horse already run out of the barn due to the breakdown of the VIX? So yesterday's call, Tim was super easy. It just was super easy. I didn't know what the outcome was going to be, but it was super easy. And it was super easy just simply because, hey, just using this nine count pattern, knowing that price was coming right in that resistance line at two o'clock. And so we had a topping signal at resistance. I don't have a, I have resistance. I just don't have the topping signal. And therefore to go short right here is a, I get it. I understand it. I just think it's dangerous because I don't have a topping pattern. Now that's not to say that our man Z corrected me and said, well, wait a minute, wait a minute, there is, we can get to peak G out here. And so that's a beautiful thing. And he just said, well, just go use that low swing point where that rose went to indicator bottom formed out there. And so that looks like this here, Tim, as we take a look at the chart and you can see that a little high that we got out here recently got to wave number seven. Now the good news here is with regard to, let's say directionally where the market is headed to, what our man Z knows inside the den is we're going to use that G out there. And I'm assuming that he went short, he's going to give it just a little bit of room above the high of that candle session because if price takes that out, he also knows that that's a recycle pattern. For me what I would be doing is just simply starting that letter count right back down here and that was a low from this morning and that says we're only in wave number one letter number A out there. So I do not have at 149 any kind of low risk trade. Every trade is risky and when you say low risk it was just simply hey is there any kind of pattern that's forming a supportive resistance to give us an idea as to where price is headed and the answer my friend is no. Now if we take a look at this as well, let's do it if you take a look at another thing that was going on this morning inside the ES mini was price was testing the bottom of a brand new daily profile out there that low is 2813 we only got down to 2815 good enough for us especially with other patterns that were forming out here so we can see with regard to the ES mini you're asking about the spy prices at that resistance level of the bottom of the weekly profile 2858 if price closes over that it closes over resistance here it closes over Stevie's resistance on the 30 minute time frame chart and price heads to 2869 is it that easy it's never that easy that's what we would be looking at the answer my friend I do not have a low risk trade at 150 in the afternoon we'll be right back since 1984 Basil Chapman has been using the Chapman wave methodology to advise traders of his expert market opinion well originally hand drawing charts from the late 1970s into the 1980s Basil noticed that prices under most circumstances virtually always had a certain number of legs to the upside before declining sharply later Basil found that computer software which included the standard market technical indicators enhanced the degree of accuracy and calling price turns as well as market trend calls thus was born the Chapman wave sequence using the Chapman wave methodology along with other indicators Basil Chapman advises his subscribers of his expert market opinion each market day with his opening call newsletter right now you can get a two week free trial to the opening call Basil's daily trading newsletter by visiting the front page of our website at tfnn.com cancel at any time during that trial and pay absolutely nothing get your two week free trial to Basil's newsletter the opening call today by visiting tfnn.com no matter what kind of trader you are 2018 is a great time to try out a subscription to Tom O'Brien's gold report whether you just plan on diversifying your portfolio with some exposure to gold and gold mining equities or you're a gold bull that sees a great time to sign up for the Gold Report Tom O'Brien publishes his Gold Report every Monday morning before the market opens and covers a variety of topics including gold silver platinum copper the XAU and HUI the dollar bonds South African rand as well as more than 20 of the most actively traded mining equities start your 2018 off with a bag and sign up for the Gold Report today the Gold Report is a long term newsletter that focuses on building real wealth through the management of a successful portfolio of gold stocks for all the details and to start your subscription right now visit the front page of tfnn.com and you'll find the Gold Report under investment newsletters you know what's cool taking something that's good for you something specifically formulated to help with weight loss better sleep stress reduction and the need to detox Nicar hunter and gatherer ancestors found all their food sources today our food sources no longer contain the vitamins minerals and nutrients our bodies need to stay healthy and strong that's why we need primal edge daily nutrition it includes a special blend of ionic soil based vitamins minerals fatty and amino acids and an easy to use liquid form primal edge is powered by highly concentrated folic and humic acids nature's preferred delivery system they've been called miracle molecules because like sunlight air and water life they ensure we receive all the nutrition we need to be healthy and thrive we take it every morning primal edge formulated and approved by nico and page of living a primal lifestyle buy it today for just eighty nine dollars 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.com Thanks for joining us here on our great this is David White and I'll get you a little bit of Hailer Marshall up two points team you know maybe what you should because I know you're looking for trade type information or hey what's the market doing next kind of thing why everybody's really looking at that I would say because the end DX 100. Is the leader to the upside right now the question is what can we level. Again, where the entire breakdown began, where it really began. Now granted, it's a gap to the downside that was Sunday evening, but the real breakdown began from a pattern persistent standpoint right here at 1.30 in the morning. And that high out there that we're taking, look at that was on the 13th, by the way. That was at 75, 24, 50. And we're at 75, 23, 50. We can see how price is running into that resistance line. I would say if you see a 30 minute close above that, because there's no other pattern that is present right now. And we may see that in the next five minutes. That'll tell you that the index 100 is not only strong, it's stronger. And it is headed higher. Now headed higher to where on a 30 minute basis out there, if we just stick with that chart, we could draw in an A to B equal CD pattern. That pattern would look something like this. That's coming off of this bottom out here on a 30 minute basis. That's that road's momentum indicator bottom up to that. Why is this thing grabbing everything? Oh my goodness. Got two indicators going at once. So here's what you can see right now. You're at the 1 to 1 A to B equal CD level of that pattern. Plus you're at Stevie's resistance level. You break through that, Timmy. And price is headed to 75, 69. We're at 75, 26. And if the NASDAQ can bust through resistance, it can lead all of the other markets higher. So I hope that answers your question even more better than we did before we went to that break. Thanks so much for being here. Thanks for all the questions, folks. Always good to be here, but stay tuned because my favorite polar bear, David White, is up next. Tom O'Brien, three to five. I'll be back with you tomorrow on terrific Thursday. Have a wonderful Wednesday.