 The following is a presentation of TFNN the Traders Edge with Steve Rhodes at 1-877-927-6648 or internationally at 727-873-7618 The Traders Edge now Steve Rhodes Good morning folks welcome to the May 24th the wonderful Wednesday edition of today's Traders Edge show I'm your host D.B. 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 let's make sure we have an extraordinary one now 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 can make that one little two by four shift well it means we can find the gift in every set of circumstance that life is going to toss at us now today you and I are going to go check on the circumstance of these markets we'll go figure out what those bulls and bears what those buyers and sellers are communicating to you and I at just past 11 o'clock in the morning I do want you to know I'm absolutely grateful for your presence here but even more important than that and that's this during this next 53 minutes I'm here to serve you so feel free to pick up that phone you can dial in at 877-927-6648 now if you've got a question but you can't dial in you can send me an email send that one off to Steve at TFNN.com and inside the subject hitting please put radio show question now if you're inside our tiger's den well then any in every 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 the show we got a sea of red out there the only sector inside the S&P 500 to the upside is the energy sector you got lights we crude up 44 pennies and the XLE up 39 cents otherwise everything is a sea of red the Dow down 240 7 tenths were sent and generated an A to B equal CD to the downside is what looks like to Stevie the S&P's up 35 points 9 tenths were sent 1% for the NASDAQ 100 135 which in the process of testing his first key level of support inside the NQ the Russell 2000 off 23.1 to 3 tenths semis down 2.5 79 bucks to the downside trend is off what about 1.5% nearly 200 points there gold's off 4 bucks silver's down 9 cents like we crude up 44 pennies natural gas up 4 cents the 30 Treasury is down 3 ticks so the only flight to quality out here is that US dollar index up at least 300 ticks right now 103 68 and breaking out when I say breaking out let's go in fact take a look at the US dollar index charts out here let's pull those what did Stevie do I close those down okay as I get ready for travel as it is let's see it's a try to find this file out here won't take me too long although I've got a bunch of them but give me a second here we want to go take a look at where's the US dollar headed to some to pull up my set of charts that will help us do that daily weekly monthly here we go so this will populate here momentarily and we'll have the US dollar index which is taking out a daily TD 9 count top that will occur today with a close above 103 49 so now just waiting for the profiles here to fill in and you can see we're above the top of a daily profile we should be now above the center of a weekly profiles my recollection why isn't showing up let me just make sure I've got it turned on that would be the first thing I do there we go well I time I am incorrect it is now above the top of the weekly profiles or above the top of the daily taken out a TD 9 we're above the top of the weekly profile all here it is it's a monthly profile was thinking about so the next resistance lovely watching for the US dollar is going to be 104 05 if price can close above that with the US dollar index would be telling you and I is that over time that it wants to get up to 1406 so again for the US dollar next stop should be at the 104 basically 00 level just called that you get above 104 and it's off to the races for that US dollar index whatever stories you read about people and that the US dollar index is you know getting you know crushed in all those types of things out there will shoot I'm heading to Egypt come Saturday and in the last eight months the US dollars got so strong or that currency's gotten so weak it's a it's it's it's a bargain I mean it's a bargain over there I'm staying the four seasons we're not even paying 400 bucks a night for for not your cheap room there it's a it is a bargain in any event out here the US dollar index is is not dead whatsoever here if we take a look at what's going on now in the equity future contracts we take a look at the daily time frames just to kind of get us a feel for where support might be well when we take leave the yes many this yesterday completed that nice bearish and golfing candle that thing completed a 1 to 1.272 a to b equal CD pattern and now we have price inside its profile so the next area of support you can see price right now at an area of support and that area of support is the top of the weekly which that 420 so I take that back it's at the at the center of the weekly at forty one thirteen so at the center of the weekly in the center of the daily their wedge between forty one oh five and forty one fourteen is what we'll call it watch those areas if that gives way it will take a look at the intraday charts to see if there's any kind of a bottoming signal out here so we're at one level of support if this area fails that we're back at forty seventy six the bottom of that bullish structured daily profile and if that fails we're back towards the bottom of the bullish structured weekly profile forty fifty one and heavens to Betsy if we close below that well if we close below that that would tell Stevie that we likely have a two month correction that would be taking the place out then we'll take a look at those charts to try to figure that out on the left hand side you've got the Dow equity future contract now prices trading below thirty three zero zero four why is that important what thirty three zero zero four is the swing point the swing point from the trading session of May four so here we did you can see the retracement was about a point six one eight was sixty two point five five to be exact so it works with regard to the A to B equal CD patterns out here and now if you close below that thirty three zero zero four the one to one A to B price projection level would be thirty two four ninety five in the case of the Russell two thousand it is attempted to form a new daily profile today that new daily profile has supported seventeen fifty six fifty the centers at seventeen seventy three thirty and the top is seventeen ninety eight fifty watch seventeen fifty six fifty those are areas to watch now let's switch over and take a look at my other set of daily charts for the four equity future contracts here we'll get a feel for where we're at with regard to the oscillator and change lines and any other important piece of information so with regard to the yes many nothing more to add than what we already took a look at with regard to support areas in the case of the NQ you can see yesterday confirmed a roadsman dominicator top price is testing the top of that profile we know that if that area fails in that area being thirteen five seventy to be exact then we're going to look at a move to thirteen five oh five low thirteen five oh five we're looking at thirteen three seventy five and below that it would be the TD nine count breakout level thirteen oh fifty five seventy we've already discussed the dow equity future contract so nothing really for me to add to that in the case of the Russell two thousand it is pulling back to its oscillator and change line that number specifically we know we've got that new profile doesn't show up on my white background charts because I'm using my advanced Doppler tool on those black background charts we won't have confirmation that profile until this evening but there is another level of support and that is at that oscillator and change line and that is printed at seventeen sixty four so you got seventeen sixty four there seventeen fifty six fifty as that new profile low you close below that we're headed lower inside the Russell two thousand so that's what's going on we take a look at the daily time frame charts let's dive down real quickly and see what's going on on those intraday charts and we'll start here with the NQ with regard to the NQ we do have a TD nine count bottom on the thirty minute time frame chart that makes the price point level that's very key to watch at thirteen five seventy twenty five to close below that we're headed lower I see on the two forty we also have a TD nine count pattern it looks like this will complete that would be at two p.m. today zeroes with T. F. and N. we'll be right back currencies commodities and bond markets are as important as ever right now with how they're driving the volatility in equity markets across the globe which is why it's a great time to try out Teddy Keg stats Tiger forex report Teddy Keg stat breaks down the forex markets every Monday using his thirty plus years of experience as a trading veteran of futures forex stocks and options Teddy releases his weekly Tiger forex report every Monday morning with coverage of all the major currency pairs including the dollar index the Euro dollar pound dollar dollar Swiss dollar yen as well as many more and he also has weekly coverage of the crude oil market and the thirty year T bonds as they both influence forex markets tremendously when you sign up for the Tiger forex report you also gain instant access to Teddy sixty minute webinar archive he just hosted forex strategies and fundamentals what is behind the Tiger forex report for all the details and to start your thirty day Tiger forex report subscription today visit the front page of T. F. and N. dot com T. F. and N. educating investors you might think that if you want to be successful at trading in the stock market you're going to need a crystal ball after all it's impossible to predict the future right like any endeavor in life before you decide it's impossible get some advice from the experts you might find that it's not so impossible after all for daily market overviews that give you direction on the key indices selective stocks and commodities subscribe to the opening call newsletter at T. F. N. N. dot com the opening call newsletter is written by Basil Chapman creator of the trading methodology known as the Chapman wave the Chapman wave up down sequence gives you an edge in identifying price turns finding the peaks and valleys in stock prices get the opening call newsletter by Basil Chapman in your inbox every day first time subscribers also get a thirty day money back guarantee if you're not satisfied let us know and you'll get a full refund within thirty days of signing up T. F. N. N. dot com educating investors Steve Rhodes started his trading career as a student almost twenty years ago and the student has now become the master Steve won the prestigious timer of the year award in twenty eighteen and barely missed that mark again in twenty nineteen 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 with updates throughout the afternoon sign up for Steve's market newsletter mastering probability and you'll receive access to seven of Steve's educational webinars absolutely free at T. F. N. all our newsletters come with a thirty day money back guarantee so you have absolutely nothing to worry about visit T. F. N. all of them and try mastering probability thirty days risk free today T. F. N. educating investors toll free at one eight seven nine two seven six six four eight internationally at seven two seven eight seven three seven six one eight welcome back folks over take a look at the N. Q. right now we can see that the only two bottom well I take that back the bottom signals that we see out here on the thirty minute time frame chart you've got that TD to do is make its way up to thirteen six eighteen thirteen six eighteen is the asset or in change line pricing we can see how it's really been acting for the most part as resistance really since about seven o'clock this morning so that's going to be a key level pricing close above that then we're looking at a move likely to thirteen six ninety five or thirteen seven twenty no bottom signal in the fifteen roads meant to be indicated signal on the ten the price to clear the asset or change and I would confirm that the thirty minute wants to get to thirteen six seventeen and then the other topping pattern is the TD nine count pattern out here on the two hundred forty minutes right now what this would suggest to me bar number nine will complete at two and then at the close we'll get the bar following bar number nine so going into this evening's close let's assume that the N. Q. is going to continue to move lower out here throughout the day get a little bit of an interday bounce right now then it resumes itself to the downside here so this could then extend itself into at least bar number nine or even the bar following nine meaning that you couldn't maybe it might not be till about ten o'clock at night after Asia comes on board that you could get that bottom signal that bottom signal that you would be looking for would be if we do get a one day rate of change above plus ten percent so Mr. Bill inside the Tigers then asked me if I would go over that and the answer is I will switch over to that set of charts or really just one chart out here and I'll explain the setup and then we'll kind of move back actually let me let me explain really so the set up would be when you get over a over a ten percent one day rate of change out there then my experiences the best way to find those bottoming patterns is go to the 30 minute time frame charts create for 30 minute time frame charts or at least three the ESE N. Q. and the and the Y. M. out there the Dow equity future contract what you're looking for is for confirm bottoming signals on all three if you get that then you get what comes next what comes next is when we get a one day rate of change above plus ten percent why is it taking that that's weird whoo okay we have a technical glitch let's see if we can get rid of that technical glitch well let me change my windows whoo we got a problem here steve's got a problem in discord let's try this again okay here we go so now you should see this chart here so the bottom panel of the chart you'll see the plus ten and the minus ten percent level those are showing the one day rates of change above that is the actual spot ballot it says 50 day expense moving average and then above that is the actual cash chart for the S. and P. 500 and the blue arrows represent days when the spot ballot it says a one day rate of change greater than 10 percent historically the pattern says it within 48 hours you're going to get a bouncer bottom pattern out here the last day that we saw this signal this came in on the trading day of April the 25th it was the following day we saw just a slightly lower close and then we saw a rally it's typically what happens it's not a guarantee of what happens at least typically stall the rally out there and at least in the overnight session you will see some type of bounce but you don't get that until you actually see the bottom signals the bottom patterns and that's what you want to do and I found my experience over the past when you get all four or at least three of the four 30-minute charts to to be generating the same type of signal well it gives you the highest probability it's a great probability out there versus right now as an example here we take a look at a 30 minute well we weren't going to switch panels we were looking at the 30-minute chart for the NQ and so now go take a look at the other 30-minute time frame charts and show you that we don't have synergy so we would not be looking for something like this when I say something like this is going to be these charts as soon as I can get there this right here so here in the lower left in the lower upper right you have the NQ with the TD9 count bottom now this is before this very moment in time on the left-hand side so here's what you would be looking for you'd be looking for bottoming patterns for all three or at least three of the four well the 30-minute ES is showing a Rosemont to indicator signal now it's only 11-22 that means in about seven and a half minutes if we do get this post reversal candidate ever confirm Rosemont to indicator bottom 41-28 being a key level of resistance out there Dan I saw you went long so you want to watch at 41-28 or 41-29 level if price can clear that then you're looking to move to 41-45 or 41-49 would be the real key level of resistance that's where counter trend move at the moment in time would end that's because we don't have any other profiles of new profile forms different story in the case of the EDAW equity future contract it could also generate a post reversal candle that too would generate a Rosemont to indicator bottom target 32-9-35 if price closed above that under 30-minute basis 33-0-15 and above that 33-0-52 the Russell 2000 even though it doesn't show on my chart out here this could actually it needs to get up to that oscillator and change on about halfway into that big bar to the downside they can see out there if it does that that will be what's referred to as a three river morning star pattern will actually be a four river because it'll be four bars out there but that would qualify also as a bottom this is what you would be looking like so let's still go into the thought process that we're seeing unfold here right now live and Stevie's calling it is a counter trend intraday rally out here just simply with regard to the patterns today that I share with you and teach to you out here this is exactly what you'd be looking for if we get that move lower in the afternoon and the spot bottlenecks as a one day rate of change above plus 10% if you saw this overnight you would go ahead and you would take a long position of course you'd want where those different resistance levels are at and that's of course always the beauty about utilizing your system or my system a system and just being consistent with it and and if you do that then to see if you're able to come back and take a look at the play by play utilizing you know these are whatever did today timeframes it is that you guys actually use but fixes back below 10% no I understand that Peter it's an end of day it's not it's not where we're at right now at 1124 in the morning it is an end of day deal all I was doing was really just a Mr. Bill had asked about that wanted me to basically go over that again and that's intention that's what my intention was if I wasn't clear my apology about that but now what you do know is on those days exactly how you traded exactly how you know sometimes you will see those inter-day signals occur before the actual close so you just again you're looking you know what to look for when you can see that rate of change is a is going to be above 10% coming into the end of the day so Mr. Bill I hope that that helped you out and everybody else that was out there as well so we take a look at the 30 minute church out there let's take a look at a request we've got two requested of coming so far of course I would love more oh wait before we do that I take that back guys before we do that let's just continue on with this thought process of why we might say hey get this nice inter-day counter trend rally and then another move lower is the very first thing that I spotted that when I was up early this morning and I mean early this morning and that was this and I see Mr. Z pointed that out inside the Tigers that maybe others did as well and that was that the DAX was forming a island top an island top pattern nobody having an island top but you can see that the DAX here make sure I'm on the right charts out there yeah we had a nice gap to the upside back on May 18th was down at 16.069.42 the high of today's session is at 16.013 that creates this little island out there I can go ahead and actually draw it in we'll go ahead and draw in the island now this is not just your ordinary island top out here this is a special island top why is it so special Stevie well if you take a look at the high then on May 19th that high out there was 16.331.94 that high was the all-time high that was the all-time inter-day high for the DAX no matter how far back we might go out here and that's kind of interesting at an all-time high you have an island top you can't get more bearish with regard to candlestick patterns out there and the NASDAQ composite and the DAX tend to follow each other hmm something to think about we'll be right back the gold report as a precious metal gold is still king it continues to hold the most effective safe haven and hedging properties across the global major trading hubs of the London OTC market the US futures market and the Shanghai gold exchange the gold report Tom O'Brien publishes his weekly gold report every Monday morning for subscribers consisting of coverage of the XAU HUI GDX the dollar bonds the South African RAND as well as 25 different mining equities with specific buy-sell recommendations the gold report new subscribers get a 30-day money-back guarantee so you have nothing to risk subscribe to Tom O'Brien's gold report newsletter now at TFNN.com hosted at Discord TFNN has been educating traders for more than 20 years with live programming hosted by a variety of professional traders during market hours and now they are expanding their reach with the Tiger's Den available to all tigers and tigers for just $1 for the year there's no catch or added costs when you join our community of traders in the Tiger's Den you can look over the shoulders of Tom O'Brien and the other TFNN hosts while they analyze charts during their live Tiger TV programs and join an interactive trading community with hundreds of members exchanging ideas interact with other tigers and tigers as they share trading ideas news analysis and discuss the market action all trading day even at night and on the weekends the Tiger's Den at Discord is accessible on mobile or tablets as well so it's always at your reach to sign up today and become a part of this educational community of traders just visit the front page of TFNN.com sharpening your skills as an investor is like getting better at playing a musical instrument you have to practice sure but you also need excellent instruction from experts at TFNN you'll get advice and guidance from the authority in technical market analysis and it's not just dry tedious text either TFNN airs live financial content streamed live on TFNN.com and TFNNN's YouTube channel with Tiger TV live every market day from 8 30 a.m. to 4 p.m. Eastern for free each host is an experienced trader and gives their take on the market while taking calls and 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 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 let me let me finish my thoughts here so we take a look at the DAX DAX has got that island top we know that it's an all-time high if you look at the weekly chart you're going to get a confirmed roadsman dominicator top to it looks like you'll get that by Friday out here you at least have that signal right now in price below its asset or in change line tells that it's lost its way out there and that opens up the door for the DAX to get down to 13976 now in the case of the monthly time frame chart you are in bar number 8 in order to get to bar number 9 that would be next month you'd still need to see a close above bar number 5 out there so I'm not going to worry about the monthly chart it's made you know it's a retest of a prior top out here with the signals on the daily and the weekly so I said earlier that I would be preparing for a two-month pullback well where the Sam heck did Stevie pull that out of right well again it goes along with everything that I share with you each time we're here together at between 11 and 12 or sometimes between 8 and 9 in the morning out here here is the monthly chart now for the DAX if we take a look at the DAX this could be in a sense we had a nice four-week rally to the upside that's sessions higher and then now assuming that that island reversal is going to do what it should do it should take hold and says we move lower well what I would expect out here as you can see typically as far as moves to the downside they're typically two months you can get more than two months you get two or three out there but this is where Stevie is saying you know what we're looking at out here we're looking at a down move lower in May and it will lower in June that doesn't mean we can't find some type of bottoming pattern in June out there and typically we do like around June 25th or 4th 26 somewhere right around there is where the typical seasonal bottom would come in it takes up to July and then down in through the November time frame so that's where that two month idea of a correction comes and it's all because of well it's a combination of things but now it's really because of what's going on inside the DAX oh Stevie come on you can't make that decision about the US market based on what's going on inside of Germany can you well you know that's a pretty good point however what you and I can do is we can say well let's go investigate that and here's the investigation charts now what I've got up top is the NDX100 I could change that to NASDAQ composite we're going to leave it at the NDX100 because the NDX100 is something you can trade now we take a look at it what's below that is the DAX and what's below that is the correlation chart now I've changed this to a 10 day correlation so this says on average over a period of 10 days are both these instruments trading in the same direction if they are those bars are above zero 94% of the bars I don't know if it's 94% I just pulled that one out of you know where Stevie pulled it out of but 94% some high percentage level of bars are above zero out there and that says we've got a directional correlation well if we've got a directional correlation and the DAX says you know what I'm going to move lower for the next couple months out here well that's where it comes with regard to the US moving lower as well what's on top of that well we are take a look at the NDX100 here the NDX100 if we go take a look at its charts what we're going to see here momentarily is that it formed a top yesterday just as the NQ did as you and I were looking at it here is the NDX100 chart and you can see that yes it was now that confirmed roadsman to indicator top price below the oscillator and change line the cash in to see is telling us wants to get down to 13 059 now that would be the minimum of a move to the NQ out there for the NDX100 so that's what I see when I take a look at the markets overall so I do hope that helps you out let's get to our first request out here that first request coming in from a guppy inside the Tigers and let's take a look at NVIDIA NVIDIA is a ticker symbol now there whoops that's not it that's still the DAX let's pull up NVIDIA did they come out with earnings already or they are coming out I apologize the message was before and I forgot but here's what I can share with you yesterday NVIDIA confirmed a roadsman to indicator top so it did that when you generated or when it generated that bearish reversal candle yes it was a bear sash candle bear sash candle by the way doesn't need it can form anywhere doesn't need to have a trend that's in place out there but nonetheless it's still very important bearish or bullish reversal signal out here so now what this tells us is NVIDIA and it has a bullish structured profile that formed yesterday it should pull back to test that that's what the daily chart is communicating to you and I on a monthly base or a weekly base I should say this is signaling to and I okay doesn't have a top but the we'll say that the we'll say that the daily and the general indices may drive this and so it's first downside target would be two eighty three ninety six so this is beautiful we've got a little bit of a little bit of a little bit of a little bit of a little bit of a little bit of a looking at the little space around here we are going to now input twenty twenty thirty one nine thirty twenty three ninety six so this is beautiful we got twenty twenty twenty four as the bottom on the daily around twenty eighty three and change on the week the answer and change line so I'd say it's more likely the move would be to between two eighty and 288 oh two the monthly basis although the month is not timeframe. We were taking a look at the NQ, all the 30-minute equity future charts earlier. We saw either Road's Mint Diminicator or TD9 account bottoms. This is my recollection. Here in the case of NVIDIA, we've got a TD9 account bottom. So intercession right now, McGuppy. You should see a move up towards that 304-ish range out there. That's the oscillator unchanged line. If the market is going to behave like it normally would with regard to these signal patterns out there. But overall, it looks to me like NVIDIA is ready to move lower and go test that target area. That would be between, again, 280 and 288. So I do hope that helps you out. And thanks so much as always for the request. Next request coming in from Roger. Roger wants to take a look at RF. And RF is, what is RF? It doesn't matter what it is. It's trading at about $17.39. I'm just going to confirm. No, it's really trading at $17.44. So I'm having a little bit of a slight data feed issue on some of these instruments. But what we see here is prices above the top of its daily profile, above an oscillator and change line. No topping pattern that CDC is out here. So this should continue to move higher. The issue, Roger, that this has, and you were asking really about mid to long term, it's that mid term. Where did price find resistance at that oscillator and change line? It's the entire reason that I developed that little tool out there. It's amazing that tool. It's a great tool. You guys should really learn to use it if you don't already. So that's your real threshold level. That price is going to need to clear the daily is bullish. But the weekly is saying, hey, Roger, not so fast, or at least, hey, RF, not so fast out there. Roger Federer. Hey, that's why Roger likes that. I do like those. Roger, those, those, of course, I'm a late adopter out there. I did buy a pair of those on shoes for walking, not, not for running for running. You got, you know, I don't really think those are great running shoes, but boy, they are comfortable for sure when walking. But anyways, back to RF out here. So any additional information, there's not anything else that I see on this set of charts here that I can assist you with. So expect a, now with regard to pullbacks out here, maybe I can find a little bit with regard to pullbacks. This would be day number one. It typically does a two bar move to the downside, two to four bar move to the downside. So I'd expect this to pull back tomorrow as well out here. And that is ticker symbol RF. So Roger, I hope that that helps you out. Thanks much for taking the time to make a request out there. The next request is going to come from SNP wants to take a look at on semiconductor or take a look at on semiconductor. Those are those on shoes out there too. How about that two in a row? How does that work? Well, I'll tell you how it works. Life is always happening for us, not to us. When we take a look at on semiconductor, it looks like it's happening to it this morning. It's trading down below the bottom of its daily profile at 79 29. But we'll confirm that we get back to the screen. You might think that if you want to be successful at trading in the stock market, you're going to need a crystal ball. After all, it's impossible to predict the future, right? Like any endeavor in life, before you decide it's impossible, get some advice from the experts. You might find that it's not so impossible after all for daily market overviews that give you direction on the key indices, selective stocks and commodities. Subscribe to the opening call newsletter at tfnn.com. The opening call newsletter is written by Basil Chapman, creator of the trading methodology known as the Chapman Wave. The Chapman Wave up down sequence gives you an edge in identifying price turns, finding the peaks and valleys and stock prices. Get the opening call newsletter by Basil Chapman and your inbox every day. First time subscribers also get a 30 day money back guarantee. If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up tfnn.com. Educating investors. Everything in the universe is governed by the Fibonacci sequence. This mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market. To stay on top of stock patterns you can take advantage of, sign up for the Fibonacci 24-7 newsletter at tfnn.com. When you subscribe you'll get a weekly report from veteran day trader Larry Pezzavento on stocks you need to pay attention to and you can trust Larry's analysis. After all, he's got 45 years experience as a day trader. Larry will also provide daily charts, videos and data on the key markets that he's tracking. Expect notifications from Larry on market movement you need to act on at any time. First time subscribers also get a 30 day money back guarantee. If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up. Subscribe to the Fibonacci 24-7 newsletter today tfnn.com. Educating investors. Are China A shares hot or not? If you trade China A shares now may be time to take a closer look. Trade C-H-A-U or C-H-A-D Directions daily CSI 300 China A share bull and bear ETFs. China A shares in either direction. Visit directioninvestments.com today. An investor should consider the investment objectives, risks, charges and expenses of the direction shares carefully before investing. 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 866-4767523. The prospectus or summary prospectus should be read carefully before investing. An investment in the fund 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. This program is brought to you by Vista Gold traded on the NYSE American and TSX under the symbol VGZ. Folks we're taking it on semiconductor this for SNP and the the B point of an A to B equal CD was passed with with big volume was passed with like 10 million shares I believe was on this trading day right here May 16 or May 15. And that generated an A to B equal CD to the upside. Now this is not completed that pattern. That pattern wouldn't complete until you get up towards about the 92 52 level out there. Okay, so we know that we don't have a top in place, but we do have a certainly a sympathy trade here. This is pulled back for whatever reason. And right now price is testing a key level of support. That is the bottom of that profile 7928. So if SNP price closes below that level out there and this should be where price would find support tells you we got it's got some problems. It's moving into what I had used as the B point of the C point of the A to B equal CD with volume this swing point here did volume of 4.7 million shares worth 4.1 million shares as as we speak right now. So I don't think that A to B equal CD pattern is going to hold up the one that we're looking at in the daily time frame. And if close place close below that profile level at 7928 says we're headed lower now headed lower to where excellent question we can see the weekly is sitting on the center of its profile. So it says if that area is defeated by the sellers out there at 7917 and we're at 7928 on the daily time frame. So we've got all the support here. If that level fails, then we're looking at 73 58 and 7695 is another potential level on the monthly time frame, but I'd really be watching 73 58. So it looks to me like on semiconductor is headed further south that would be confirmed with a close below the bottom of that daily profile. So SMP. I hope that helps you out. Thanks much for taking the time to write in as always the next request out here coming in from Tim and Tim wants to take a look at swab SW AV is the ticker symbol trading out about $278 and 65 cents relates to 7786 was the last print out here. What is this doing? It's got a roadsman to indicator top that has led to a sideways ish type move out here sideways ish. If price closes below, where's the low out here? If price closes below 260 802 255 76 would be up on the card stem. That's a TD nine count breakout level. The weekly time frame has a TD nine count top with price testing support and the support is right now testing is bullish structured support level. That's between about. So 260 09 and 269 69 269 69 and 260 09. That's its bullish structured area out here. So we know why we take a look at the daily time frame. We're saying why does price stop where it is down there? Well right now we know that that is a very strong support level established last week or this week by that center of that bullish structured profile out here. So I think you just got really pretty much a consolidation out here. Tim, there's not much else that I can really provide to you. So I do hope that helps you out and thanks much for taking the time to write in. Vic writes in and Vic says climb Mount Sinai where Moses got the 10 commandments. You know Vic, I actually looked into that. It turns out the Mount Sinai is quite a ways away from Cairo, which is where we're really headed to. But I did look at that. However, when I did that search, you know what? Things happened for us, not to us. What popped up on the screen, I would love to do that, right? David always, David White, it was a little bit a little bit of polar because he always liked to talk about that burning bush out there. So I said, hey, why not? Why not go check that out? Well, turns out that the story of Moses, he was found in a river, I believe, and was it the Nile? I don't think it must have been. Yeah, it had been the Nile. It was a Nile, right? And so it turns out that the, so we're also going to go see the oldest churches, temples, you know, the whole thing. I just want to experience all of history going back. It turns out that the temple or the synagogue, the oldest one in all of Egypt, is really where Moses was taken out of the water. The Nile is not near that now, but they have historically gone back and they've taken a look at it. And they say that that's where the river had flowed. So kind of interesting. So really looking at it, going to enjoy some tremendous history out there. But your question was, you don't have a question. Well, and look, I'm going to record shows while I am traveling. I'm going to do my best to do that. What I don't know is the internet issues that we've got and things of that sort. But I do plan on doing a good number of shows while I am away and being able to report back to you what is it I'm seeing. Seeing where? Well, seeing in Egypt, seeing in Greece, I'll be in Santorini, I'll be in Athens, I'll be in the Malfi Coast, I'll be in Florence, I'll be in Venice, I'll be in Lake Como. So, you know, a bunch of different places out there. I can tell you, travel-wise it's packed. I started booking this whole trip three and a half, four months ago, four months ago when all this really started coming together. And anyway, let's get to another question that has come in. And this one is from Alton. And Alton says, good morning, Stephen, kind of NBS regarding your Mediterranean trip. Have a great time. Well, if you have time, Kenny, please look at the GDX, absolutely. So, let's switch over. Take a look at the GDX out there. You're looking for an entry price. Now, in the case of the GDX, the problem is that we don't have any kind of a bottom signal. We just have an A to B equal CD to the downside sort of. And the reason I say sort of is because the B to C point would have to be this May 12th to May 15th timeframe. So, as an example, I'm going to do it on my other set of charts that will just take me a second to do that once these charts come up. I believe that retracement level is pretty narrow, but I'm just going to check it out just to make sure. When I say narrow, I mean way less than 0.382. Well, it's a 29 percent retracement out there. 29, I like to at least be a 0.382. But let's go with a 30 percent. Let's just say that that is the A to B equal CD pattern. Well, then what we've done so far is we've attained the 1 to 1 level. The 1 to 1 level out here, Alton, would have been 3121. We're at 3119 as we speak right now. We're really 3113. So, 3074 is likely the next target. That's a TD-9 count breakout area. If price closing below that, Alton, that says that we had lower. The next lower price would be 2834. So, if we haven't been too gratuitous in giving that an A to B equal CD pattern, the answer to your question as to where is the buy point, it would be when a bullish reversal candle forms. So, we're talking about a bullish hammer candle, the bullish engulfing candle, the bull sash, a gap to the upside, a bullish piercing candle. What did I for a bull separating line? I think I've gotten them all in there. Those are what we would be looking for to confirm then that the GDX is bottom. Of course, what you'd like to also see is that gold and silver have also done the same thing. So, I do hope that that helps you out, Alton. And thanks for your kind comments about the little vacation. I haven't been away since I tripped to South Africa really since 2014. Yeah, I've taken a couple of days off here, you know, to go up to Nantucket and stuff like that, but nothing of any kind of significance, not like this. So, I think I have been through all the questions out here. If there's something inside the tiger's den or if I've overlooked something, here we go. Dan says, Steve, how about a short-term Microsoft levels? So, let's go take a look at Microsoft. We'll punch this in here. Microsoft, see what it is doing. Yes, Roger. Shoes are comfortable. Yeah, those are on shoes. So, Roger, I got the I got the newer ones that were out there with the, because I've got a little bit extra weight out there. Although, on the weight side, most people know I was on the cat food diet. I graduated over to the one meal a day program out there and yeah, the 11th command for Mr. Bill, follow the oscillator and change line. And we'll get back to this break. We'll take a look at Microsoft, which confirmed a sell the deep point pattern yesterday. And you've got a new profile to deal with your Dan. So, we'll give you that new information as soon as we come back. If you're looking for potential trading setups in the stock market, then Rocket Equities and Options Report is a newsletter you should try. Tommy O'Brien delivers options and equity trades when the markets present them using a combination of fundamentals and technicals. Sign up for Rocket Equities and Options Report today with a 30-day money-back guarantee so you have nothing to risk. For all the details and to start your subscription today, visit the front page of TFNN.com. TFNN, educating investors. You might think that if you want to be successful at trading in the stock market, you're going to need a crystal ball. After all, it's impossible to predict the future, right? Like any endeavor in life, before you decide it's impossible, get some advice from the experts. You might find that it's not so impossible after all. For daily market overviews that give you direction on the key indices, selective stocks and commodities, subscribe to the opening call newsletter at TFNN.com. The opening call newsletter is written by Basil Chapman, creator of the trading methodology known as the Chapman Wave. The Chapman Wave up-down sequence gives you an edge in identifying price turns, finding the peaks and valleys in stock prices. Get the opening call newsletter by Basil Chapman and your inbox every day. First-time subscribers also get a 30-day money-back guarantee. If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up. TFNN.com, educating investors. Everything in the universe is governed by the Fibonacci sequence. This mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market, to stay on top of stock patterns you can take advantage of, sign up for the Fibonacci 24-7 newsletter at TFNN.com. When you subscribe, you'll get a weekly report from veteran day trader Larry Pezzavento on stocks you need to pay attention to and you can trust Larry's analysis. After all, he's got 45 years experience as a day trader. Larry will also provide daily charts, videos and data on the key markets that he's tracking. Expect notifications from Larry on market movement you need to act on at any time. First-time subscribers also get a 30-day money back guarantee. If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up. Subscribe to the Fibonacci 24-7 newsletter today. TFNN.com, educating investors. A variety of professional traders during market hours, the Tiger's Day. Available to all tigers and tigers for just $1 for the year. There's no catch or at costs when you join our community of traders. Sign up today and become a part of this educational community of traders. Just visit the front page of TFNN.com. Looking back folks, we're going to take a look at Microsoft here. Let me get that chart up on the screen. So Dan, the new profile levels, you can see the supporter. It's pretty clear on my chart, 30821. And that is likely where Microsoft is gunning for. Now the reason that I say that, Dan, is because it's a bullish structured profile and prices below the center of that profile that formed yesterday. So the top is at 31950. The center is at 31788. My experience is that when you close below the center of a bearish structured profile, I said bullish I think, bearish structured profile, you will typically make its way down to support. Now if price were to close below 30821, then the next area its price would become its price target is 270205. That's on the daily chart. On the weekly, you've got to confirm TD9 count top. You also are in wave number seven. Of course, that can't be confirmed until next month out there, but the TD9 count top has taken hold. That suggests where price wants to head to is 29661. So we got 29661 and 30821 is targets on a monthly time frame. Prices run right up into resistance. The TD9 count breakdown area out there. So Dan, I hope that helps you out with regard to Microsoft and thanks so much for the request. The next request inside the Tigers then was to take a look at 30 minute, 30 minute sure. Sorry, let's go back up here. We take a Microsoft on a 30 minute time frame. What do we have here? We have a, you don't have anything just yet. If Microsoft by 1230 can spite below 31265, you would then have a TD9 count bottom. If it doesn't do that by 1230, I don't have any kind of a pattern out here to speak of Dan price and below profile in the outsider and change line. That would be a key level of resistance, 31548 out there. Alright, the last request, let's get to it out here. I don't even remember what it was, but it was ABBV. So what do we have here? You've got a, you still have a TD9 count bottom price testing support. That's the bottom of its profile. That's out of 14220. Price has just consolidated with inside his profile after forming that TD9 count bottom. The weekly price pulled back to TD9 count breakout support at 14210. So only if that daily pattern fails, the way that pattern would fail would be a close below 140, 52 would you be in real trouble. You're at support on the monthly timeframe as well. So you're back in support on ABBV. Will it hold? I don't know. But I will see you tomorrow on terrific Thursday. I'll see you on fantastic Friday. I want you to have a wonderful Wednesday. Take care, folks.