 The Trader's Edge with Steve Rhodes. Oh, toll-free at 1-877-927-6648, or internationally at 727-445-1044. The Trader's Edge. Now, Steve Rhodes. Good afternoon from TFNN. Welcome to the May 2nd, the terrific Thursday edition of today's Trader's Edge Show. I'm your host, E.B. Perseverance Rhodes, who absolutely knows that Egypt 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 do that. 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 make that one little two-by-four shift, it means we can find the gift in every set of circumstances that life is gonna toss at us. Now, today, you and I are gonna go check on the circumstance of these markets. We're gonna go figure out what the bulls and the 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 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 on in right now, 877-927-6648. If you can't dial in, we've got you covered. You can send me an email like Richard, or Bob and Alex have done. So you can do that. If you do send me an email, Steve at tfn.com, by the way. I just put radio show question in that subject. Teddy makes it so much easier for me. And send them early. I always feel terrible when they come in, you know, they arrive maybe around 155 or something like that. I don't know, it's possible between ISPs and things like that, and I don't get to it because I'm in the last segment of the show. So send those early, if you would. And then of course in the Tigers then, like Ruby, any ping will do. So let's go ahead and get this show started. On terrific Thursday, of course, this is Tiger, Financial News Network. I'm Steve Rhodes. Welcome to Lush Show. Right now we've got the dial off 209 points. 26 to 20 is the print. About 0.8% to the downside. Half a percent to the downside, the S&P, that's 15 points. Three quarters of a percent to the downside inside the NASDAQ 100. The Russell 2000 is basically flat. That's right. It is flat. It is trading out at 1575. The semis are up eight points. They're trading at 1552. Trainings are up nine tenths of a percent. That's up 90 points out there. Gold is back 12 bucks. Silver's off 11 pennies. Lights we crude down 230. Now I think we're gonna start in the lights we crude here. We're gonna go right to our questions, see how these questions may be kind of serpentinous into the market. Of course I wanna ask what you want to ask. So Robert B writes in. He says, what is support for USO on a daily and weekly time frame? So Robert trades lights we crude. He uses the ETF, the USO as the vehicle to do that. And so Robert is asking, where is support? So the first thing that you and I are looking at kind of standard out here is we put up our daily, weekly, monthly time frame and we've got daily, weekly, monthly and quarterly TAS market profile. So one of the things that you know Robert with regard to the daily time frame is prices traded below support. Support would have been the bottom box, 1320 held yesterday. It gave way today. Now let's go take a look at the USO. Let's take a look at today's volume so far is about 27, 28 million shares. The swing point of an A to B equal CD to the downside would be the swing point from April 26. Or 42 million shares seems to me at this stage here, straight line math that you are taking out that swing point with wide price spread and accelerated volume. So now you've got the A to B equal CD pattern out here. Now A to B equal CD pattern provides you and I with price projection levels. The first one is the one to one area and that's at 1246. The second is at 1222, that's 1.272. Number three is at 1191, the 1.618. What the system doesn't tell us is which of these levels is the target. Now when you take out a B point as this has done with wide price spread and accelerated volume, this would suggest to you and I that it's gonna be more than a one to one A to B equal CD. Just a suggestion that that is a likely outcome. The way that you know that this pattern is complete is the bulls will have to show up. So you're looking for support here and on a daily basis, it won't show up until it shows up. But when I say shows up, what I mean is you'd see some type of bullish reversal candle. On a weekly timeframe chart, if we're looking at it's task market profiles, what you're gonna see is it's below resistance that was the top at 1337. You're only gonna see two profiles out here. The bottom and the center happen to match up to be the same price point that is 1099. Is that the price target out there? It's possibility, but the reality is, as you know Robert, that really the USO is gonna be all based upon the round the clock trading that takes place in Lightsweet crude. And this is really where the decision needs to be made. Now on this chart here, we can see the prices below the weekly and the daily profiles out here. The weekly was 6208. So that suggests to you and I that the change in, that there is a change in trend in Lightsweet crude. If we take a look at its A to B equal CD price objectives out here, it's going to give us the one to one in the 6043 level. Now we've been down as low as 6095. But today if price closes, now of course it's a weekly chart. So let's put it in a better perspective. Tomorrow Lightsweet crude closes under 6208. It will have broken that level of support. 59 and a quarter, 57, 76, 56, 11 those are all price objectives of the A to B equal CD down pattern out here. So I think to help you to identify support, now that we're past a B point, with accelerating volume, with ride price spread, the only way to find support is to continue to watch the chart for Lightsweet crude. That's where I would be watching it and I would be looking for some type of, because what this sets up, as each of you can see out here, nice move off of the bottom from December 24th. And really this would be the first Gartley buy pattern that could form for Lightsweet crude. So we'll want to pay attention to this most certainly, but where that price is going to be, I don't know, I could just give you a target area. So Robert, I hope that helps you out with regard to the USO. Let's go take a look at the next question that rolled in here. This one coming from Alex. Alex says, hey Steve, so I say, hey Alex. He says, the QQQ made an all-time I 19132 yesterday, Mayday, and in April 29th to the penny. Okay, so kind of a double top there. Does the NQ show a double top on those days? Okay, so specifically let's go take a look at the NQ out here and let's do that by switching over and take a look at our profiles. And the answer is no. Now, here what you're going to see, Robert, is the actual high in the NQ, all-time high, was at 78, 79, 50, and that was on the trading session of April 25th. Yesterday was a close, but no cigar when price got up to a high of 78, 67, 25. But why were you asking the question there? Guess you were asking it as maybe I'm having to read into this, is this a double top or something like that? Yeah, I don't know. Does it, in order to have that type of pattern, do you have to hit it to the tick? That's not how I take a look at it. I would say since you had asked about the NQ, the more important question is, on this pullback so far as the change in trend, if we received a change in trend signal, the answer there is no, we have not. When would we get that? We would get a change in trend signal in the NQ, so a la QQQQ ETF, with a close below the bottom of its daily profile, at 76, 26, 82. Price found support where both buyers and sellers were comfortable with price. A bullish structured profile, that was at 76, 82. There's no change in trend at the moment inside the NQ. Steve Rocha, TFNN, we'll be right back. 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. Whether we're in a bull or bear market, a good strategy is to have the tools needed to help you scan and analyze the markets before you trade. 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Details on the Tiger's Den are on the front page of TFNN.com. TFNN has launched our brand new website. 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. 157 S&P 9, NASDAQ 100 up, 37 points to Russell. The semis and the trans points are all positive out here, but we'll take a look at what meaning is in that. Of course, I want to look at exactly what you want to look at. So please go ahead, send me emails. Give me a call, Steve at TFNN.com. But we're going to go take a look at Ruby's request, sweet Ruby Thursday, and Ruby wants to take a look at gold. So let's first begin by taking a look at the four different timeframe market profiles for it. Here, Ruby, we've got 60 minute, 120, 240, so we've got the one hour, two hour, four hour, and then we have the daily timeframe. What we'll see out here on the 60 minute, because I know you said you took a long position this morning. So from a 60 minute standpoint, what you would like to see your next level of resistance, you're looking at the left-hand panel box out here. And I don't know how long this profile will stay, but it's the one that is present right now. And that level of resistance is 12, 73, 50. So that's what you would be looking at. On a two hour timeframe, price is below the bottom of that profile, 12, 72. So you'd certainly like to see price overtake that level. Of course, clearing 12, 73, 50 would take care of that for you. That would then set up a run to 12, 75, even though they're small dollar increments, you're trying to find a bottom is what it sounds like to me. And these are the levels that you need to see price take out because above the top of a profile is always a positive thing. Now, on the four hour timeframe, we're so far away from the profile that has formed the bottom, which is 12, 84, that it's really kind of insignificant to you as we speak right now. Here's what we know when we take a look at the daily timeframe. We've seen a retest of the prior low. That prior low was a trading session here from April the 23rd. That low was 12, 67, 90. The low that we've seen today has been 12, 67, 30. So by 60 pennies, it's rejected that area. I don't have a volume per se that I'm going to rely upon on this chart right here, but you certainly would like to see that level hold. Now, on the daily timeframe chart, there is an A to B equal CD to the downside as well. If we take a look at that, Ruby, that's gonna give us a one to one price projection of 12, 62, 30. Now you don't have to hit it exactly, but it's still open out there. When you're trading below the bottom of the box, which it is right now 12, 77, 20, not a good thing because it says, okay, continue changing trend. Gold is traded below the bottom of the profiles and began doing that back here in March. And so we can see that it has continued to, in essence, do the same thing after some different counter trend rallies out there. So ideally for the A to B equal CD pattern, you'd like to see some type of bullish reversal candle. So you might ask the question out here, not put this chart, might be easier for you to see. You'd say, well, didn't we see one of those? We did, back here in the trading session of April 24th. So today's just a retest of that bullish level, but closing below that April 24th or 23rd level, not a good thing. And I can't suggest, I'm not suggesting to you that 12, 61, the one-to-one price projection would be the place where price would stop. Now you're searching for a bottom. If we do the wave counts from the swing point out here that began our A to B equal CD pattern, February 20th, you happen to be the lucky soul who has entered based on wave number seven. That is letter number G that is on my system. That often can be a signal for a change in trend. That's in the daily, so that's good. But of course you wanna see continued levels of resistance, at least on the shorter-term timeframes get taken out. We haven't seen that yet, 60 minute, 120 minute, and clearly we're below the bottom of the profile on the daily. Now on a weekly time frame, so wave number seven inside of the daily time frame. On the weekly time frame, you've got that TD set up nine count that formed last week. We have a lower low today. We just prove that out here, slightly lower low. That's okay because in a TD set up nine count, if there's gonna be a change in trend, it'll occur on either bars eight, nine, or the bar following. We're now in the week in the bar following, so that's okay. But clearly price needs to get up above Stevie's green line out here at 12.95. That's not what you're dealing with right now, but you'd wanna kinda use that as a future reference point. So what are we saying? We're saying the weekly says potential for a change in a bottom. We're saying the daily shows potential, but now we've gotta get the inner day timeframes to really kick in for you. Well, we haven't looked at a 30 minute time frame. That would be the, well, shoot, I don't have the 30 minute time frame. What else can I share with you then on the, I could change it, but I'm not gonna change it. I'm just gonna go with the 60 minute out there because there's more information. Hey, we talked about wave number seven, which by the way, I don't know if wave number seven Ruby is a lucky thing for you or not, but if you take a look at the 60 minute time frame chart when it did make its most recent high out here, and you remember we were taking a look at that all together because it was at the end of the show, no, or the beginning of the show, this was at one o'clock back on April 26th, April 26th, it got to wave number seven out there. So I think you're hoping that wave number seven on the downside is going to be the bottom pattern. Now price was also stretching, moving lower, doing less relative energy out there. We did happen to get a bullish engulfing candle right here at 12 noon. So now Ruby, what you know on this 60 minute timeframe is you have bottoming potential out here. You wanna see price take out resistance, at least the top of that 60 minute profile, 12, 73, 50. So how's that for an analysis on gold and what it's doing? In essence, it is showing signs of life, but it's also showing signs of getting ready to walk off the plank, so to speak. And the plank would be a close below the today certainly would be a close below the low from April 23rd, 12, 67, 90. That's what you should be watching. So hope that helps you out and thanks for writing in, even through the tiger's den. So let's see, do we have anything else out here? We don't at the moment, but send those cards and letters, keep them coming. Let's go take a look at what else it is that we can identify in the markets out here. So where are we gonna start? We're gonna start by taking a look at one of the things that we talked about yesterday. One of the keys was the 50 day exponential moving average for the spot volatility index. Right now that's priced at 14.22, we're trading at 14.71. So watch 14.22 at the end of the day. Yesterday was a close above the 50 day. Today could be a second close above that. When you get closes above that, that's where you can really see some evil, can evil carnage out there, so to speak. But you won't really get the confirmation of that carnage with regard to the spot volatility index until we correlate it to what's going on inside the ESMini. So as we go do that, we explode, not explode, but open up the ESMini chart, what you're gonna see that it hasn't done to give you the doble geek confirmation is 28.94.50. That's really where price needs to close below inside the ESMini to say things are gonna get rockin' and rollin' to the downside, to where we can take a look at weekly profiles and so on and so forth. But right now what we have is a conflict of market messages. I was not gonna say interest. We have the advanced, we have the spot volatility index, we didn't even talk about the advanced decline. We've got the spot volatility index right now trading above its 50 day. So watch that end of day reading out there. It'll provide you with a bunch of information. However, if it closes above the 50 day, what does it mean for the ESMini overnight? It probably means what we should see. Probably means what we should see. Here's what it means. It means the ESMini's gonna go at least test the bottom of that profile, 28.95. This is the absolute worst case scenario for the S&P. The ESMini closes below 28.90. We'll call it 28.94 and the spot volatility index above its 50 day exponential moving average. I'm certain you are or strive to be one of the best of the best at everything you do in life. It's the most common trait that we tigers and tigers share. If you're looking to become the best of the best when it comes to managing your money, let me teach you to do what most wealth managers tell you can't be done, which is how to time the markets. I'm Steve Rhodes, author of Mastering Probability. 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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. Back up folks, so you got the Dow off 155 S&P down nine and so we're taking a look at the S&P. Excuse me. Peter had wanted to take a look at the ES, which we were doing, excuse me, kind of got something caught in the throat there. And I don't know, Peter, if I really got to what you were looking at, you were saying the ES is above 2909. So let me try to figure out what you're really referring to there. But let me just do this here. Let me take a look at the ES mini here on a 30 minute timeframe. And here's what we know right now. We know that price was pushing lower through the morning, right into the 12 noon timeframe. We know that because my system was automatically drawing those lines. Now, when those lines get drawn, they're just warning signals. They don't mean a thing until it finds that swing. And that swing is some type of bullish reversal candle. And that took place at 1230. Since then, we have seen a bounce off of that. What this would suggest to you one night, the bounce is going to prevail that right now the new 30 minute profile, which is bullish in structure. So you would watch 2904 to the downside. You were talking about 2909. And I apologize because I don't know exactly where that's coming from, the middle of the box. Okay, great. But here on the 30 minute timeframe resistance is 2909. In essence about where the move today began to the downside inside the ES mini. A price above Stevie's red line, which is 2904. So this is suggesting to you a further bounce is likely a fairly wide price spread. Cause it was a 25 point price spread, 2904 at the bottom, 2909 at the top. So that's what the 30 minute timeframe chart is showing to both you and I. If we expand that, go to a 60 minute timeframe. What's going on here. Here it's showing us the same type of pattern but no bullish reversal candle. And this says the counter trend rally, if it's run out of steam, it did that a few minutes ago as price got to 2909.17. That is Stevie's red line. So you'll watch the 2909.17 this area out there. If you're an intraday type trader. If I look at the two hour timeframe, it too was trying to make the same pattern, which is price pushing on a string, pushing lower doing less energy. No bullish reversal candle yet, but there's still 30 minutes left or 28 minutes left in this session out here. I believe that, yeah, this one ends at two. And so just depends on where price closes out that session to determine whether or not this is generating a bottoming signal out here. The daily, Peter had mentioned the daily. Here's the daily timeframe for the ES. He was referring to 2909 being the center of the box out there. So yes, look, the ES mini, we all covered this yesterday along with many of the indices, they all show topping signals. Pretty much all, I think all but two of them have shown topping signals. Now, when you get those signals, which were confirmed yesterday, yes, a nice big old bearish and golfing candle. Ruby and I, we were talking about wave number seven, the ES mini on a daily basis. Looks like that is going to be wave number seven. That can be where you get a change in trend. But as Peter noted, 2909 is held. The other level, Peter would say, hey, you've got to get a close. You, the ES mini has to close below 2,894 in order to generate a change in trend signal. Otherwise, price is just doing what it's supposed to. When you get topping ish type signals is pulling back to support. So the ES mini has not broken support. One of the equity futures contracts has, and that was the YM. So when we had this chart up on our screen, we had this up on our screen out here. Well, it wasn't that it was probably this one. Notice the Dow equity futures contract. The key level there still is 26332. That'd be a heck of a rally, which could unfold out here. But right now, price is below that. So the Dow is suggesting a change in trend. Not the case with the NQ, not the case with the ES, and not the case with the Russell 2000. So let's go to a call. We've got John and Philly on the line. John, thanks for calling. Thanks for holding. How are you? Hey, Steve, I'm very good. Wanted to ask your help, please. I called in and gave your producer the symbol for copper futures. But Steve, I wanted to just ask you, your general opinion on this question. Is the abruptly? So I know John wanted to ask that question, and that is his trick to see if I can finish the question. It is the game of jeopardy here. And I'm not going to play that game, because I can't answer it. We're going to wait for John to call back in. But you try to figure out, what was he going to ask me? I know he should be on the phone here soon. So here's what we know right now while we're waiting for John to call, which is he's back. OK, great. John, you're back on. Talk about abruptness. How'd that happen? You there? Yes. We're being trolled here, I'm afraid. Yes, we are. But I think it's your line. I think it's your line. Could be. Steve, I wanted to ask you this. We've had abrupt selling in oil, copper, palladium, platinum, and a little bit of selling in some stock indices. But given those commodity futures I just mentioned, are you drawing any conclusions about what that means and developed any position swing trade ideas resulting from any message you've gotten from that? I'm just wondering. No, I haven't. I haven't given it really a speck of time. But maybe you have, which would be nice. And so what have you, what has it meant to you? What does it mean to you at this stage? Actually, I don't have an answer. I like you. I've given it some thoughts, but I haven't come up with an answer. So I'm groping for answers. And that is my bottom line. I would say this, the abrupt turn in those commodity markets and the fairly sizable four- and five-day percentage changes, it could be just a little mini-panic that's done. It's a flash in the pan. On the other hand, it could be indicative of something sizable going on, something in the heart of the financial system. And hence, I'm asking this question. So I think maybe, so with that information, I guess the way that I, if it was just a flash, just a quick washout or something, I think we take a look at the, and I have the continuous contract up on my screen right now, John, just because for this set of charts and tools I didn't have the July contract out there. But typically, we see if it's just kind of like a knee-jerk reaction, it's just like a two to three-day push down and then a recovery, which is possibly what's going on inside the equity markets right now. I don't know. We're kind of in day two out here. But when I look at the high-grade copper contract, it looks a little bit more like there's further retracement to go. For me, there's a clear A to B equal CD to the downside. And John, do you want to hold on through the break or do you just want me to kind of elaborate on that when I can? Yeah, I'll hold it through and listen. Thank you. Yeah. OK, great. So we're back with John and Philly in just a few moments. Stay with us, folks. And we'd love to hear from you as well. 877-927-6648. If you are in the CD market and looking for a secure investment, the Tyga First Mortgage Program may work for you. The security for these first mortgages are building lots in the tax opportunity zone in St. Petersburg, Florida. The Tax Act of 2018 set up tax-free zones across the country where you can build and hold for 10 years and pay no tax on the profits, which makes these lots valuable. The investment is anywhere from $30,000 to $75,000. 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But many of you may not have that tool on your system, but one of the other patterns, John, that I see out here, the simple pattern, is that is a consolidation, which was busted through yesterday. And so the consolidation pattern gives us a measured move. It's equal to the same consolidation level. And that would give us a downside projection for High Grade Copper in the 271-ish level. Now, when I turn the A to B equal CD pattern on, we're gonna see that it's currently at the one-to-one area. No bullish reversal signal. So for me, in order for that pattern to complete, we would need to see some type of bullish candle. So this says the next step to the downside would be in the 275 level, 270 below that, and some change out there. So I see a continued move here, and then the difference with regard to, let's say High Grade Copper, and maybe it's correlation, if you will, to the markets. Let me get rid of the consolidation. Boxes out here is the mere fact that price is now below the daily timeframe. Oops, I was gonna put both the daily and the weekly. Price is now below support of both daily and weekly. So yesterday's move below that 2.87 level, that was a really critical level of support that it had broken. Whereas right now, in the equity markets, what we know is the only equity market to have done something similar would be the Dow. And right now, the Dow is trading right at the bottom of its weekly profile. So folks, the number you'll want to watch there, and this is the Dow Equity Futures contract, would be 25, 395. Whereas for the other three contracts, support hasn't even been tested out there. That's not to say that we don't have a change in trend, but we don't have a confirmation of that. So I mean, that's what I see when I take a look at those charts. I don't know that it really kind of addresses, is there some other meaning there? And maybe is that, are you kind of going down the road of a liquidity issue, liquidity crunch, or maybe expand a little bit? Yeah, well, Steve, well, here's what we do know. Stocks and actually all risk assets started to mature, and I'll pick a date March versus being a point in time when things started to mature. Namely, we had gotten well past the fear generated and the oversold conditions and the liquidation of the short sellers off that December 26th bottom in a bunch of markets. And then subsequent to that, we kept on pressing higher and you were documenting thoroughly the suppression in volatility instruments. In other words, every time there was a minor dip in something and a minor blip up in volatility, tools, shorts would pound that lower. And what we've seen, or what I speculate has occurred in financial markets is an accumulation of leverage long positions. Now, what strikes me as being something to think hard about, to pay attention to is these raw material commodity futures price declines just in the past week. And certainly palladium and oil are not linked, but the fact that we've had copper oil, platinum, palladium, aluminum, the 10 futures over London, everything's reversed quite hard. And those markets were not up at record highs. Oh, gosh, speculators must be massively long. So I'm asking the question, are we seeing a big canary in the coal mine economically or financial system wise? Of course, I don't have the answer to that, but I'm asking that question. And what I'm thinking is, if we are a liquidation event of some sort could set up in equities as well. So that's my point. No, look, there's no doubt about that. And so when you just take the, kind of like your last two sentences out there, we all should be on the lookout for something like that to occur. And I think it's very evident when we take a look at, at least here's our four core cash indices, the Dow, the S&P at the top, the NASDAQ in the Russell 2000 on the bottom. And I just kind of use the Dow, the upper left-hand panel folks, because the consolidation pattern that it has been in since January of last year, it is still around. And we can see that price has not been able to bust through that consolidation. One of those levels would have been 26, 616, or still is. Another level could be 26, 951, and then just slightly above that because of a trend line. So to me, that's the consolidation area of the Dow. And what OB-1 has taught both you and I, we love some of these expressions, if you can't bust them up, it tries to bust them down. And if the Dow or the other markets are gonna bust them down, the Dow easily could go back and revisit the lows of last year, or at least some significant retracement of that. And for me, the way that we would know, the signal that would give us the highest probability that that is unfolding, then the Dow is actually taking place right now. It isn't taking place in the other equity futures contracts. That doesn't mean that they won't, it's just not taking place right now. For me, the easy signal is, because of knowing that we have seen short sellers try to create this top out here on several occasions, where their attempts have been thwarted has been at the bottom of those profiles, where the buyers have been. And that was, you mentioned March 1st. So March 8th was the perfect timeframe to prove that, geez, the sellers are still out here and they're gonna defend their position. That was the bottom of the profile. They came back and defended it the following day too, and then it was back off to the races until the sellers said, on March 22nd, we're gonna give it another run, which they did. And for a period of four days, they tried to bust through that level. Can't bust them up, what's it gonna try to do? Or can't bust them down, it's gonna try to bust them up. Well, it did bust them up, got above resistance, the top of the box on April Fool's Day and continued to move higher. We're now have this next attempt right here of sellers to see what kind of muscle they have. We're within about eight points of the low today, was within about eight points. The low was 2901, the bottom of the box is 2894, so that's seven points, give or take. John, I think that if there's something more serious going on, which I'll just simply call a change in trend, we will see 2894 fail, just as we've seen 26332 fail. And in the NQ, we'd be looking for 76 and a quarter. And in the Russell, it'd be 1561. So only one of the indices right now is giving that signal. What I haven't done, what I don't know, John, is inside the Dow, you know, is it Boeing? Who's the big drag on it? But to get a unanimous vote, all of these need to, if there's a change in trend, something more significant, we need to see close and below the bottom of those daily profiles out there. The ESMini daily chart with those rising, with that sequence of rising, just a, somebody should write a book about that one particular chart, it's quite cool. All right, thanks. Hey, thanks John. We'll be right back, folks. Since 1984, Basil Chapman has been using the Chapman wave methodology to advise traders of his expert market opinion. While originally hand drawing charts from the late 1970s into the 1980s, 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 in calling price turns as well as market trend calls. Thus was born the Chapman wave sequence. Using the Chapman wave methodology along with other indicators, 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 TFNN.com. Cancel at any time during that trial and pay absolutely nothing. Get your two week free trial to Basil's newsletter of the opening call today by visiting TFNN.com. It's amazing to think that Tom O'Brien started his weekly gold report 17 years ago with the first issue published April 7th, 2002 when gold was trading at under $300 per ounce. Gold peaked at more than $1,900 in 2011 and after spending many years consolidating at lower prices, gold may be poised for its next big run. 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So the last two, we got two questions that are in one for Vicky in, somewhere in Clearwater. Vicky wants to take a look at Bank of America. Bank America. BAC is the ticker symbol out there. Bradenton, okay. So Vicky, first things first, you've got a brand new profile that formed today. The top of that box is 3034. We're trading at 3049. That's a bullish signal out there. We're trading above the weekly, top of the box, well above that. That was 2585. So that's a bullish signal out here. It does show prices moving into a swing point area. That was from August in 2018. That had 222 million shares. Really not too shabby because you're at 200 million shares today. We have a day and a half sort of worth of trading. Today's 27 million. So you're pushing into a swing point with volume. That would suggest to me, based on looking at the monthly timeframe, that what price is doing over the longer haul is moving up to 3305. That is the top of the monthly profile. On a daily timeframe, what we like about the most recent action is the previous resistance area was really March 19th and there was 55 million shares that traded that day. When that level was passed, it was 100 million shares. That's how you like to see resistance areas get taken out. And then there was a follow-up to it just a few days ago on April 29th when there was 70 million shares to the upside. So Bank of America itself looks strong. I don't see any kind of topping signal out here for BAC. Hope that helps you out. And then finally, for Hector, Hector wants to take a look at Harmony. Hector's specific question was this, or is this? If Harmony, HMI can close at the 171 or above level, would that be a rejection of 12, 21, 18? Where's 12, 21, 18? 12, 21, 18. I'm not sure why you're looking at 12, 21, 18. In fact, I don't see 12, 20. Yeah, I see it, but that's not really a swing point. What I would be looking at, Hector, would be the swing point down here, December 3rd. That level is 147 to 154 out here. I don't see Harmony with a bottom signal today, whether it closes at 171 or not. So I hope that helps you out. Thanks so much for being here, folks. Stay tuned. David waits up next. Tom will grind three to five. I'll be back with you on fantastic Friday. Thanks for the call, John. And thanks for all the requests out there. Take care.