 Educating Investors. The following is a presentation of TFNN. Traders Edge with Steve Rhodes. Toll free at 1-877-927-6648. Or internationally at 727-873-7618. The Traders Edge. Now, Steve Rhodes. Good day, folks. Welcome to the July 29th. The fantastic Friday edition of today's Traders Edge show. I'm your host, Steve. Perseverance Rhodes, who absolutely knows. And 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. And the easiest way to do that is to always remember that life is happening for us, not to us. That's right. When you and I make that one little two-by-four shift, it means we can find the gift in every set of circumstance that life is tossing 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, and just past, well, it's just past 8 o'clock in the morning. So if you are listening live or if you are listening at the normal time slot, I should say, we'll try to make the show as pertinent as we can. If you are listening live, though, we would love to hear from you. A couple ways of that. You can always give us a call at 877-927-6648. If you can't call it, you can always send me e-mails. Now send it early. Send it to Steve at tfn.com. Inside that subject heading, please put radio show question, of course, inside our Tiger's Delaney. And every ping will do. So let's go ahead and get this show started on a fantastic Friday. Of course, this is Tiger. Financial News Network. I'm Steve Rhodes. Welcome to the show right now. We've got the U.S. equity futures trading the upside. Dow futures up 86 points. Nasdaq futures up 126. ESMini's up 27. Russell's up 7. Over in Asia last night, all the markets closed lower. When I say all the markets, I'm referring to the Shanghai, the Hengsang, and the Nikkei. Shanghai down 30 points. So we'll go take a look at what that actually means here momentarily. We'll take a look at the international markets. See what they're signaling to. And I, over in Europe this morning, you've got both the DAX and the FTSE trading the upside. The DAX up 1 in 210% 161 points. Gold's up 6 bucks right now. Silver's up 10 cents. Platinum's up by 10 bucks out there. You've got natural gas up by 19 cents. Light's recruited up 218. Traded out at 98.60. Third of your treasury is off 17 ticks. She's trading out at 142.20 out there. U.S. dollar index is back at 311 ticks as well. 105.92. So let's do this here. Let's not move over. I say move over. Well, actually let's do this. The first thing, let me just give you really a market overview. And then we'll go take a look at some of the detail type charts out here. But here's our nine panel market update chart. What we typically do for the one in the 2 p.m. update out here. But it just kind of gives us a sense of where things are at. So here if we take a look at the ES mini, you'll see an A to B equals CD to the upside. You also see a solid green line, which is the top of its weekly profile, which is the center of its weekly profile. And that's at the 41.21.60 level. So that's the next area of resistance. The price can get through that. Then price would go target, or could target, the top of its weekly profile on the 42.77 level. But just know that the ES mini is trading up in a resistance area. You've got the Spot Ballotinix, which is below its 50-day exponential moving average and falling. That puts the wind at the sails of the bowls for the S&P 500. If we take a look at the NQ out here, the NQ and both of them are in A to B equals CD to the upside. And therefore a bearish reversal candle would confirm a sell the deep point, particularly sell point. Short of that, the next price target area for the NQ is the top of its weekly profile. And that's at 13.004. We're trading out at 12.859 right now. The US dollar index closed yesterday below the bottom of its bowl of structured profile. It's trading below that today, even though right now it looks like a hammer can. I don't know what it will look like at day's end. But this suggests that price should go target the 103 area. It's bowl of structure. It's got a bowl of structured weekly profile that formed this week. And that bowl of structure says 103.17 to 103.91 could be the price target. Goldilocks trading right up into resistance, the resistance of the top of its daily profile and the bottom of its week. I take that back. The bottom of its, the top of its daily and top of its weekly. It's a new profile that formed this week. Both of them are at the 17.78 level. So prices found support or resistance there. In the case of Silver, if Silver is able to close above 1986, had a great day yesterday, but if price can close above 19.868 to be exact out here, that is going to generate a change in trend signal for the weekly timeframe. Lights we crude has two by the D points or two Gartley by patterns out there, but all that's really led to as a consolidation with inside its daily profile. That's between the range of 90.98 to 102, even Stephen. Natural gas is got the September contract up. What this doesn't show is that price ran into resistance at its TD9 count breakdown level. That's okay. We don't have to see that. We can see that price ran into resistance at a prior high out here, the one from June the 8th. Price right now is testing a potential level of sport, the top of its profile, 8.20. If price closes below that level, that's going to suggest a further move to the downside. In case of the 30 year treasury, she's trading above both the top of its daily and weekly profiles out there. So that looks bullish. Now when I can't recall off the top of my head, if there's any kind of TD9 count pattern out there or not, we'll take a look at that. Hopefully we'll take a look at that. So this kind of gives us an overview as what we're looking at in the general markets. Let's go now take a look at what the international markets are communicating to us. If you give me a moment, we'll get over there. I had everything set up and my computer froze up just before we came on the air. You know, things are happening for us. So all that we'll do is just simply slow things down. Just a bit. Sorry about that. So let me get over to these markets, change the panels out here. There we go. And so momentarily what you'll see in the episode, this is kind of the overview of what took place overseas, what is going on in the currency market. So the Shanghai is in the upper left-hand corner. What you'll notice about the Shanghai is it formed a nice TD9 count bottom. It actually formed that on July 15th. It was confirmed the following day. And when you get a confirmed top or bottom, what price will typically do is go target its oscillator and change line. That's exactly what took place yesterday and today. Now it's green, so it's not as bearish as if it were a red oscillator and change line. But the oscillator and change line acts as support or resistance or can act as support or resistance out here. Right now you can clearly see it's working as magic and resistance. So price did trade back inside that swing point that created that TD9 count, that July 15th area. And so price may be targeting that level. If price did close below that level, that level is 33, 82, 68. Then that would suggest a run for the 32, 72 area. That's its breakout area. Shanghai has got a confirmed rogement indicator top. There's a confirmed TD9 count top in the Hang Seng. And the Hang Seng today took out its TD9 count bottom that it formed on July 15th as well. That suggests that the Hang Seng is going to make its way back to it's a may low. That's anywhere between the range of $19,973 to $2320. The Nikkei out here continues to find resistance. It's got an A to B equal CD to the upside. You can see that visually out there. There's no bearish reversal candle. And it has resistance at $2,844. The DAX, I'll just simply open this up, has been trading in a very large consolidation pattern. Actually, I'll open it up and pull it back so you can see that. Price, in fact, what the DAX is potentially doing today, it would require a close above $13,399.40. That could be confirming an A to B equal CD to the upside, which would then signal to you and I what the DAX wants to do is make its way up to the top of the consolidation. That's in the $14,692. Right now, it's trading out to $13,439 area. The FTSE, though, is going to complete a TD9 count top today. So whatever today's eye is, a price close above that on a Sunday, Monday morning, well, really be Monday morning out there, that'll negate that signal and tell us the price is going to move up to its TD9 count breakdown area of $7,617. See roads with TFNM. We'll be right back. Inflation, we are purchasing powers eroded. There's no better place to protect your harder and money than in gold. This is the gold's flagship asset, is the Monk Todd Gold Project in the Northern Territory of Australia. This is Australia's largest undeveloped gold project. We are talking a world-class gold project in the T1 mining district. This is a large-scale, low-cost project with significant existing infrastructure in a politically safe and friendly mining jurisdiction. This, the gold just completed the Monk Todd Feasibility Study, which resulted in a 7 million ounce gold reserve and a 16-year mine life. 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Get Tom O'Brien's newsletter, Market Insights, today and try all of our products and newsletters 30 days risk-free with our money-back guarantee at TFNN.com. TFNN Educating Investors TFNN has been your trusted source of analysis for bonds, metals, stocks, commodities and options for years. And we are happy to announce that we are bringing that same caliber of analysis for the Forex Market. Teddy Keckstad has 30-plus years of experience in Forex trading, commodity risk management, Forex hedging, volatility and so much more. Teddy releases his weekly Tiger Forex report every Monday morning with elite coverage of all major currency pairs including the DXY, Eurodollar, Pounddollar, Aussie Dollar, Dollar Yen, Dollar Swizz Frank and so much more. Teddy will recommend specific trades when the market presents them and provide updates throughout the week when warranted. For the month of July, inaugural members of the Tiger Forex report will receive 25% off the monthly subscription for as long as they're subscribed. Just use promo code Teddy25 to lock in the added savings. This offer is good only for the month of July, so do not miss your opportunity to save on the Tiger Forex report. TFNN Educating Investors Call now. Toll free at 1-877-927-6648 internationally at 727-873-7618. Looking back up folks, we are recording this show between 8-9 and 8-18 in the morning. Good morning to everybody out there. We were just taking a look at what was going on over night in international markets. I was about to get to the currency area. Let's take a look at the currencies that make up the US dollar of baskets. There are six currencies here and see what they're signaling to us. We take a look at the Euro. The Euro formed a nice, that's the upper left-hand panel chart, formed a nice Roadsman to Mindicator bottom. That has basically led to what has been a sideways move over the past couple of weeks out there. So resistance is basically in the dollar two-ish area, support being its oscillator and change line out there. So just a sideways move. That gives us a ton of information out there other than that. The Japanese yen, yesterday, closed below its breakout level, $134.95. But today is going to form bar number eight of a TD9 count. This suggests that the yen should form a TD9 count bottom between today and next Tuesday out there. Now, you've got to get to bar number nine. So that has to complete at least on Monday out there, but it does look like the yen is getting ready to form a bottom and then continue to move higher, which would weaken the yen and strengthen the US dollar index. If we take a look at the Great British Pound, it is going to complete a TD9 count top today. This is the bar following bar number nine. The highest pattern right now, and I don't know what it will be at the end of the day, but right now it's 1.2246 out there. And therefore, if on Sunday and Monday morning we start to see price trade above that high, that's going to suggest it's going to negate that pattern, head up to resistance at 1.23. More likely than not, that's not what the outcome is going to be. And the Great British Pound will start to weaken and head back towards its oscillator and change line at the buck 19 level. If we look at the Canadian dollar, today is going to complete a TD9 count bottom there. That suggests the Canadian dollar, which is trading out at 1.28 right now, should have to the 1.2906 level, that green oscillator and change line. If price can close above that resistance level, then price would go target. It's breakdown area at 1.30. If we take a look at the, at the, at the corona out there, the corona has got a nice TD9 count top and it appears that price will pull back to the 10.03 level. It's TD9 count breakout level. And on the Swiss Frank out here, yesterday completed a TD9 count bottom. And if price were to close below that low, which is 0.9544, and right now you're just above that, if price close below that, it suggests lower price. If price closes above that low, it suggests running the, the oscillator and change line at 0.9642 as we speak. So all of these are the currency pairs that go into the makeup of the US dollar index. In the case of the US dollar index, you can see a nice rogement and indicator top. Price is below the bottom of its daily profile. This could be three consecutive days. Yesterday was two consecutive days. This is suggesting to you and I that price wants to make a move to 103.50. But really we've got to be paying attention what's going on inside the euro, the pound, the yen, primarily because they make up the bulk of what goes on inside the US dollar index. So that's the currency pairs that are out there. So now let's go from this. We don't have any questions in the queue. Not at least that I know of at this stage. I don't have anything by email. And nothing inside the tiger's den. So let's go take a look at let's take a look at the NQ out here right now. So let's get over to its charts and the question should be here. The question might be, where is price at a dual? First, if we look at the monthly timeframe chart, last month we saw price close below its break a level of 12209. Today is the end of the month and our price is going to get back above that area. So we don't have a confirmed real breakdown on a monthly basis inside of the NQ. If we did, we'd say price would go target 7349. The weekly timeframe has got that nice roadsman to indicator bottom. It's got a TD9 count bottom and this is going to be week number two. So two consecutive week rally out there. Now what you and I know is countertrend rallies inside the market typically last two to three bars or two to three weeks in this instance out there. On a daily timeframe, you've got now what the weekly timeframe chart is telling us that price wants to go target its TD9 count breakdown level, the 14412 level. The daily timeframe, although not drawn in here, it's got an A to B equal CD to the upside. That says that any bearish reversal candle would confirm a Gartley sell pattern and because the odds that our change line has changed colors, that would become a price target. We don't have that signal as we speak. If we look at the 30 minute chart, all we see is a sideways movement. So no signal there, nothing on the 60 minute timeframe, nothing on the 120 minute timeframe and nothing on the 240. But while we get to the five hour timeframe chart and last night at the close, we got a TD9 count top and that has not been taken out. What that suggests that price will pull back to its oscillator and change line. Now that may be the pullback. That may be the buy the dip point today. That would likely be the buy the dip point today. Of course, this price is pointing back to 12, 746. You'd like to see some type of bottoming signals on the intraday charts here. No, you can use a 15 minute chart, 30 minutes I'd say the 15 to 30, maybe the 10 minute chart, you'd want to see that taking place there. If we don't see a bottom signal, it's not that price can't hold support there. It just becomes a little suspect and the price did close below 12, 746. Then you'd be looking at a move to either 12, 640 or even down to the 12, 490 level. But one thing at a time, the price first needs to make its way back that green oscillator and change line on the five hour timeframe chart to signal to us what it wants to do. Now what is the NQ doing longer term out there? Well, we mentioned the two week, is that going to be the end of it? Well, I wouldn't be surprised if, well, we're going into window dressing. So one would think that at least the early part of next week the market should trade higher. Don't know whether they will. And maybe what we're going to get is that three week rally instead of a two week rally out there. But we can't be surprised if we do only get a two week rally and a pullback. Do I think this is the end of the move out there? I do not. I think this move goes on for two to three weeks but that doesn't mean it goes two to three months straight to the upside out there. That's not what I've ever said or that's to be clear. That is not what I'm saying. Now if we take a look at some other areas of resistance out here I was drawing these patterns in this morning for subscribers and then I had to just shut down the system altogether. We take a look at trendline channels. And a trendline channel I'm just using the tops of the candle and the bottom. So those wigs. And here what I'll do is take this pattern completed out here. So we can have those lines. And then what I'll also do is take the trendlines and just turn those two dashes out there. This is similar type work. I believe that Basil does something similar to this. Not exactly the same. But there's our trendlines. And now what we can also use are Bud Rolf's channel lines out there. The difference between the channel line and a trendline, at least for Stevie's sake out here, is that the channel lines are using the body of price. And you're looking for at least as many co-located opens or closes again. You need at least two out there. Two to three. And so you can almost say that right now, if I just leave it there, come back here. I'll try to come back here. That's okay. It's close enough for my work. And let me complete this here. When I say complete this, what I mean is move the lines both back to the upper left end, lower right out there. And so here becomes really our range of where price is likely or where the next area of real resistance is at. So remember, I did mention on a weekly basis where the eventual price target may be the 14-4-12 level. That's the TD9 count breakdown area. Well, before price can get through that, price on a weekly basis is going to need to take out these channel lines or these trendlines out there. So right now we can see that today price has really got to, you've got at least three connections along that solid blue line out there. So if price does close above this, then that suggests that price move up to that dash line out there. And you can draw that trendline on your charts as well for the weekly NQ chart. Steve Rhodes with TFN, we are recording the show early. It's 8.26 in the morning. Good morning to everybody. And of course, you can listen at 1.26 in the afternoon. Good afternoon. Thanks for listening. We'll be right back. Vista Gold owns and operates the largest undeveloped gold project in Australia, the Mount Todd Gold Project. Vista Gold just completed their feasibility study, resulting in a 7 million ounce gold reserve. 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Every Monday morning I publish the Gold Report with coverage of gold, silver, bonds, DXAU, HUI, GDX, as well as more than 30 different mining equities. To see for yourself the types of profitable trades that are recommended within the Gold Report, sign up now by visiting TFNN.com. Don't miss out on the next great gold trade. Sign up today. TFNN has launched the Tiger's Den, 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. 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. Sign up today and become a part of this educational community of traders. Just visit the front page of TFNN.com. Folks, 8.29 in the morning. If you're listening in at the normal time slot, thanks so much for doing that. Right now you've got Dow Equity Futures up 45 points. NASDAQ's up about 84. Well, it just took a quick dive. 18 points to the upside for the ESMini. I guess I should turn on some financial news. I just have golf on, I think, in the background. In any event, so we've got a question inside the Tiger's Den. Two questions. One to take a look at Apple. One to take a look at Tixon. Well, I see UI. So let's take a look at Apple right now. And the question is, can we take a look at some upside targets for Apple? So first of all, if we just take a look at the daily timeframe chart, the left-hand side out here, we've got A to B equals CD up pattern. Price did close yesterday and the day before above the top of its daily profile. That's a blower signal says we should head higher. Now, if we get any type of bearish reversal candle out here, Bogart Dog, that's going to confirm a Gartley cell pattern. And that would suggest pulling back to at least support. In this case here, the support on the daily timeframe for Apple is 156.28. Below that, the odds that are in change on it 150, about 152. Upside target from a daily standpoint, short of getting a bearish reversal candle, would be 178.49. That's its TD9 count breakdown area. So that's coming from the daily timeframe. The weekly timeframe out here, which has a nice TD9 count bottom, beautiful pattern out here. What this is suggesting to you and I is price is a really wide-ranged market profile and it's bearish in structure. So the resistance zone or where the sellers are located for the intermediate-term timeframe are between 163.75 and 167.64. And even if pricing it above that, then it has resistance at 171.53. So I would say at this stage here, and if we look at the monthly timeframe chart, what you can see is that the top of its monthly profile price is going to close or should close above the center of its bullish-structured monthly profile. This suggests that price wants to make a run for the top of that profile. And that's at the 168.79 level. I believe that's it. Let me make sure. Yeah, 168.79. So the upside price targets. You got 168.79 on a monthly. You basically have about 167.64 on a weekly. You're at 178.48 for the daily out there. That really becomes the upside price target. Like we did on the NQ, I just simply went to the weekly chart and created the channel lines out there. So that gets us up into that range of that 167 level as well. Is that the extent of the bounce inside that? Well, I don't know. We have to take things one moment at a time, really, as information is released to us. But right now, the price target is up in that 167-ish area. I hope that helps you out with regard to Apple. Dan wanted to take a look at your ticker symbol. ICUI. And ICUI, let's get this here updated momentarily. And ICUI is what? ICUI is on my screen. Is ICU medical. Okay. So as we take a look at ICU medical, quite a move yesterday, but that move was nothing more than a test and rejection of its oscillator and change line, red oscillator and change line, and it ended up closing back above the top of its daily profile. So, Dan, you've got a nice roadsman de-miticator and TD9 count bottom that formed out here on June the 16th. You're in an A to B equal CDT upside pattern. What we don't have here is any kind of bearish reversal candle. So this suggests, and you're above the top of the daily profile, this suggests to me that price wants to go target its TD9 count breakdown area at $183.58. So that's the first signal. The weekly timeframe chart and nice spotting to you on this instrument here. You've also got a weekly, oh, you're looking to get long, okay. So this also has a weekly TD9 count bottom. So hey, good spotting regardless because you've got a nice daily bottom. You've got a nice weekly bottom. And on the monthly side, what you have here is price pulling back and testing support, which is the bottom of its monthly profile at the $159.97 level. Can't bust them down, right? So price should try to bust them the upside. So let's go back from now from right to left. On the right side, which is monthly chart suggests to move up to the 205 level. Okay, if you look at the weekly timeframe chart, because price had been below the bottom of its weekly bearish, our bullet structure profile, Dan, you know the play out here. If price can close above $180.75 on a weekly timeframe, then that suggests that this is not a counter trend move. It's something other than a counter trend move out there. But if price runs up to $180.75, backs off. Maybe that's taking place while there's some kind of pattern. Maybe the confirmed sell the deep point on the daily timeframe. That would then suggest that price is going to pull back. And so you'd want to really be patient and wait on that. And so we really won't get that release of information until we see how price deals with $180.75. But knowing you've got this A to B equal CD pattern and resistance on the daily at $183.58, it may take a little while for that pattern to form to pull back. So you say $205 is my thought too as far as where things would head to $205. Yeah, so I'm with you there. But hopefully you also then see the $180.75. I mean, that's really the that's really the concern here at the moment. So that's what I see. It looks good. So I mean longer term, you got to like it. Daily bottom, weekly bottom, monthly price holding support. So kudos to you. You know, I guess we'd really have to go down to some inter-day time periods too. But I'm just concerned about that $180.75. Maybe I'm a nervous Nelly or something along those lines. So I hope that helps you out. Thanks so much for the request out there. No other requests at this stage of the game. So let's go take a look at let's go take a look at the metals to do that. What do we want to do? Let's go take a look. Let me get the gold charts here going. They'll populate here a moment earlier. Maybe I did. Oh, I already opened them up. Great. Okay. So here's our multi-time frame set of charts for gold. So what you're going to notice right now is you've got a monthly hammer candle. The month ends today. Of course, gold trading. Hold on a second. When is the actual end of the month? Sunday. So, well, what we've got right now with regard to gold, really gold, if we look at the monthly chart, what really should stick out to each of us is just simply the consolidation pattern or the range. And the range for gold is between 1706 and 2025 out there. So from a monthly standpoint, you know, what's just simply called nothing more than price consolidating with inside that range is test at the bottom. Now price should go target that oscillator and change line, 1898. Because it's green, if price were to close above that level, that's suggesting it up to 2025. The weekly timeframe chart shows we've got a confirmed by the D point pattern. That was confirmed last week with that double-ish piercing candle out here. A price was also testing this breakout level at 1676-50. Osset and change on exchange colors, this really suggests a price target of at least 1807. If price can get above 1807, then it's next real resistance band is between 1826 and 1850. If price can clear 1850, that's what gets us to the 1898, 2025, 1959 area. If you look at the daily timeframe chart, gold has a nice TD9 count bottom. It has a by the D point bottom. That was formed with that bullish engulfing candle from about 5, 6, 7 trading sessions ago. Yesterday, price closed above the top of its daily profile. Right now, price is trading above. Now, I've got different profiles with my different systems out here. But right now, take a look at the white background charts, you're in bar number 7. This suggests that price wants to go target 1868-50. It does say that you couldn't get a TD9 count top that would form between Monday and Wednesday of next week. But we'll take that when we get there. The 30-minute chart, with regard to gold, has a nice roadsman to indicator top. And price is testing support. So for the day, or for right now, we can see that price is pulling back to a key level of sport. That's at 1771-90. If we see a 30-minute close below that level, now at 1.38 in the afternoon, you're going to know where the price straight below 1771-90 or not. But if price does close below that, that suggests lower price. Otherwise, for the day, price might be just pulling back to test the only level. Well, it can't be the only level of sport. If I look at a 60-minute chart, I've got a roadsman to indicator top. And support is way down there, 1734. The 120-minute chart's got a TD9 count top. The 240's got a TD9 count top. But the five-hour chart says, I don't know about that TD9 count stuff. I want to move to higher ground. Steve Rhodes with TFNN. We'll be right back. TFNN has been your trusted source of analysis for bonds, metals, stocks, commodities, and options for years. And we are happy to announce that we are bringing that same caliber of analysis for the 4X market. Teddy Keckstad has 30-plus years of experience in 4X trading, commodity risk management, 4X hedging, volatility, and so much more. Teddy releases his weekly Tiger 4X report every Monday morning with elite coverage of all major currency pairs, including the DXY, EuroDollar, Frank, and so much more. Teddy will recommend specific trades when the market presents them and provide updates throughout the week when warranted. For the month of July, inaugural members of the Tiger 4X report will receive 25% off the monthly subscription for as long as they're subscribed. 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Watch online at TFNN.com or on TFNN's YouTube channel and become the investor you were born to be TFNN Educating Investors This program is brought to you by Vista Gold traded on American and TSX under the symbol VGZ Our next question actually the only question that we've got in the queue as we speak right now though I want to confirm that that is the case and it's about the SMH it comes from SNP inside the Tiger's Den and SNP is asking where's support in the SMH on the daily time frame so right now you got the SMH's last trade fired up at 233 and the top of its daily profile which price closed above yesterday as well as maybe four's closed negated it's sell the d-point pattern that informed last Friday out there so that suggests that price should go target 243.70 so the question was where's support on the daily basis the first level of support will be the top of its daily profile 232.14 because we have two consecutive closes above the top of a bearish structured daily profile SNP if price were to pull back below that level the shorter trend moved to the downside would or should find support at 225.59 and we can also see below that is the asset or change line that's currently printed at 222.50 so if everything is okay with the SMH's they should really hold the 225.59 level and they should make their way up to the 243.70 area however if we look at the weekly time frame chart levels in the solid lines of the channel lines again channel lines where we're looking at the body of the candle that's what we're looking for two to three or as many co-located opens and closes of those candles to draw the channel lines we can see that from a trend line standpoint price is right on it so it's right at a resistance level but if price can continue to motor on and close above this area of course the question would be where on the weekly basis would we find the next price as price is above the top of its weekly profile I don't have any kind of TD9 counts or anything out here for it so we'd really have to go to a different chart to figure out if price is able to take out this trend line where is it headed to well we already factored that or answered that question we looked at the daily chart right 243.70 but if price takes out 243.70 then where is it headed to well 246.42 because it was a bare structure profile any counter trend move should find support at the center of that level which is the 225.59 area and the SMH is where if this is just a counter trend move which I suspect that it is where price will find resistance at 246.42 now price can close above 246.42 that's the center of its monthly well structured profile price is able to close above that then you're looking to run to the top of the profile in the 222 area so SNP I hope that helps you out with regard to what the SMH are doing where your support areas are on the daily time frame and thanks much for taking the time to write in you're welcome what we have that is moving inside the markets here today let me see here MUSA close at 287 that's still trading at 287 so that's not we took a look at let's go take a look at the ES mini so let's go do that because obviously very popular instrument to trade out here so let's look at its charts and we take a look at the ES mini charts here's what we know let's start with the longer term the monthly chart we've got a nice TD9 account top out there and voila what price did last month was tested and rejected its breakout level cool things about the TD9 account pattern one everybody it's easy to learn even if you're not a technician this one is an easy tool to learn and you can document it on your charts manually certainly for your longer term time forage your daily your weekly your monthly very easy to go ahead and document and I teach you how to do that just subscribe to Mastering Probability if you do for 29 days it doesn't cost anything you know consider doing that what I was going to say with regard to that 3678 so the powerful aspect is that it helps us to identify when price might be topping or bottoming out there with that TD9 account it also sets up that breakdown objectively a breakout in a breakdown area and this is the thing that it's not like it amazes me but it does amaze me you know how the power of these nines out here power of this pattern is that no one listening other than if you trade TD9s or you apply that indicator to your charts out there would have chosen 3678 25 is a breakout level yet look at what price did last month that is where it found support and we can answer why it found support there so really helpful now if we look at the weekly timeframe chart here we'll see that we've got a confirmed rogment of indicator bottom we've got to confirm by the d-point let's do this here let's do really the same thing let's just simply draw in those trend lines those channel lines out here just to kind of give us a feel for where it's at with regard to so here let's draw in the this is what I would and I'd say this is this is the going to be the trend line out there so let's get that going right about there let's go ahead and put some dashes that's going to be one level and a moment here get this rolling and then we're going to put in the second level it's going to be the channel the channel lines again on the channel lines the difference is we're using the on trend lines we're using the top or bottom of the wick and on channel lines we're actually using the body of the candle out there so there's our trend line now we draw the channel lines in here a moment to do that again we're using the body of the candle out there we're looking for at least two or three that's pretty much it from this side and here I've just got to do some guessing I come back in and draw the bottom line but right now what we're interested in is where is the resistance here is out here so let's go ahead and just simply complete this pattern and they give you where those price targets are so on a weekly basis what the ESMini may be doing is targeting that trend or channel line the channel line resistance is in about the 42-25ish type area and then up at the 43-60 range now this weekly chart I don't have anything in here that I don't have profiles because I've got the continuous contract that is being shown here so I don't have those in there but that's likely where price is headed to now we look at the daily time frame chart we don't have any kind of a topping pattern we don't have a TD9 count we do have an A to B equal CD that's underway the next price projection for the A to B A to B equal CDF the next area if price can clear that is at 42-26 42-26 I think kind of got us up towards those trend line areas as well and 42-26 would be the 1.618 A to B equal CD1.6 what I mean is you take the measure the A to B line you multiply that times 1.6 and add that to the C point that's what gives you that price objective for day charts out here it's really the 5-hour chart that let me put this back here the 5-hour chart that's got that nice TD9 count top when you get a top typically what we see is price pulled back to a Saucelder and change line so this is a gesture we could see the ES mini pull back into the 4067 level now that could be if price does do that during the day that could be the next by the dip area out there and the price closes below that that says we it says that we continue to retrace out there what I would then look for is some type of intraday pattern to say that the move lower on the 5-hour chart would be over but right now let's not be surprised if we see price pull back in the ES mini to the 4067 level of course you take out last night's high high at 5 o'clock you're off to the races to the upside zero to a TFN we'll be right back if you want to take advantage of this sector now is the time to subscribe to my gold report the gold report is the sector as well as the markets that move gold which is the currency and bond markets new subscribers get a 30-day money back 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educating investors don't forget you can listen to TFNN 24 hours per day go to TFNN.com then hit watch Tiger TV that's TFNN.com then hit watch Tiger TV folks thanks so much for joining me it is about 8.54 in the morning if you listen in live thanks so much for doing that we'll be back to normal programming on Monday and but let's do this here I know that Larry's been off dealing with the sore throat or something along those lines out there and so let me cover some of the soft commodities today's into the close of the show so as we take a look here we got wheat in the upper left hand side as we take a look at we should go target the 8.70 45 it's got a nice away of number 7 bottom it's got a rogement of indicator bottom out there if we take a look at November beans November beans have a nice rogement of indicator bottom that was confirmed with this gap to the upside on July 26 price should go target the top of its profile out there and that's at the 14.66 level so 14.87 you get a close about 14.87 that says we head back to its highs resistance will have been taken out I'm referring to the highs back in June if we look at December corn December corn is trading above the top of its daily profile that suggests the price to go target is most recent swing point out there that is from the trading day of July 11 that is in the 6.58 6.26 level out there so that's where it is that's between the range of $197.51 and $220.79 if we look at sugar sugar needs a bullish reversal candle to confirm a rogement of indicator bottom pattern out here right now what price has done it's tested and rejected it's a descending trend line out here and so that suggests a retest of the yellows if we take a look at coffee coffee is just consolidating with inside bottom pattern so let's finish this off let's go back and take a look at the 5 hour charts let me see if I can get those up here the screen let's get the 5 hour charts and as we take a look at the 5 hour charts these are the ones we've got the TD9 accounts across the board whether it's the ESPINI the NQ the YM and the Russell 2000 as long as those 35 for the NQ the Dow would be about 32, 419 and the Russell 1867 so folks thanks for joining me early on a Friday morning have a fantastic weekend and we'll look forward to seeing you Monday one o'clock sure stay tuned your favorite polar bears up next if you're listening to the one o'clock show and Tommy O'Brien with the morning market kickup he'll be up next