 Let's get over to our mammoths to Steve Rhodes as we do each in every Monday at 20 past the hour And don't forget folks. Steve's has an outstanding show here every trading day 12 to 1 Eastern standard time has a great newsletter Mastering probability now. It's very easy to get Steve's newsletter folks come over to our website at TFNN You're gonna see it right at the featured content on the right-hand side. You just hit that button You can get it for one month for $149 Six months for 695, which is the savings of $199 or 22% in one full year for $1195 Which is the savings of $593 and 33% Now they all come with a 30-day money back guarantee folks, okay? So when you get Steve's newsletter, you're also going to get all the tools that Steve uses each and every day Huge value folks huge value Steve Rhodes. What's going on? Just returning from a great weekend visit with my one of my youngest grandsons charlie Who's 16 months old? How cool is that he lives? Yeah? Oh, it's such a but he lives up in a roswell, georgia Okay, and you know you've spent time up in georgia. It's nothing but hills. Yeah, and this this 16 month old He loves being outside. It doesn't matter if it's raining walking up the hills So I got a great workout in I bet you did It's hard to keep up with the 16 month old That's a fact man, but you can do it. You can do it Steve Rhodes. No, no, I like it. Yeah, so uh, hey My question for for you for everybody is and what we're going to talk about today Is has the next bull run in gold begun? So I thought we'd go ahead and take that. No, no, you know the normal bull run out there the one in Pamplona that that kicks off every july 7th I believe every year is when they do that bull run, but we're talking about the bull run in gold out here So the best bull markets I found the best bull markets unfold when prices rising and all major currencies out there by major currencies I'm referring to the euro to the pound To the yen, uh, you know the major currencies out there and here is a chart That takes us back to the 2000 2011 time frame where I've got the green Upward arrows drawn. We can see that gold was rising in all of those currencies at the same time Okay, that's what makes a really great bull market. Of course We can also see that gold's been rising basically since 2016 when the u.s. Dollar index put in its bottom out here So If we take that a bit further you had mentioned this during the show You would take a look at the gld. You had brought the chart back. You would take a look at it We are at new all-time highs. It's new all-time. It's original all-time high or its most recent all-time high That I had occurred back in august of 2020 and that was at the price point of 194 45 and the reason that I switched right here to the gld charts Tom is because the people at home the folks that are watching can recreate these charts Maybe they don't have access to the gold futures contract And as you said, you know looking at the different gold futures contracts makes it slightly complicated Um because of using the continuous contract, you're not knowing, you know, so I thought I'd go with the gld But as you pointed out even the gld. We've got expenses. Um, you've got um So you've got expenses associated with this but here's what we do know The gld in terms of u.s. Dollars made a new all-time high today It did the same thing in terms of great british pounds great british pound previous all-time high was in october 27th With regard to gold the gld and yen, that's going to be the upper right hand panel out here That broke to new all-time high maybe about two weeks ago And with regard to gold in terms of the uh, uh euro down here This is be the center panel at the bottom this broke to a new all-time high on friday friday's price action Took it to an all new all-time high and the same in terms of aussie dollars aussie dollars actually made a new all-time I believe was on thursday of last week. So we've got all of we got the gld We've got gold trading and major currencies at new all-time highs like you said once you get to new all-time highs You really don't have any resistance out there. Yes, right? We don't have resistance That means we really need to rely upon different pattern recognition tools that you use larry uses Basil uses that i use out there. We really need to rely on those pattern tools to help assist us with regard to Where an instrument is going so again the best bull runs they unfold when an instrument is trading higher in all major currencies So i would say that box number one has been checked that maybe we are in the beginning of a new bull run Let's go take a look. What is box number two box number two tom is what i call the dance steps of the market Not like the basic box dance that you and i probably learned initially did your mom teach you how to do the box dance Yeah, yeah, yeah We all went around there. There's no doubt. There used to be a lot of singing and a lot of dancing. Yes So i got to consider that box number two out there and what i'm referring to the dance steps folks I'm taking a look at a chart. This is a monthly chart for gold This is the continuous contract for gold and the red digits that you see out there what they are tracking our consecutive months to the downside And my contention is that the real bull market for gold back in the 2000 time frame began in october of 2000 And the way that i concluded that is in real bull runs out there We don't typically see pullbacks that last more than two consecutive sessions to the downside And that's what we see when we begin back here in october of 2000 We can see that all these retracements took place. There were just basically two bar knee jerk reaction lows out there Well, where are we at today? Turns out that if we go back into the uh, june july time frame We had a two month move to the downside At the end of february that was also a two month move to the downside and we've taken up now What's unique about this is we're now at new all-time highs which we each of us took a look at So here if we go back again and take a look at this we've got these two We got this monthly two bar move to the downside Before price resumes to the upside out there and we've got that pattern this in play right now So I would say that box number two at this stage of the game has also been checked Well And i'm not saying out here folks And i want to make sure that i'm very clear Is even though we've identified these major bull runs there still are retracements that take place And these retracements if we are in this major bull run We shouldn't see anything that lasts beyond two full months of consecutive moves lower out there So therefore To manage through this bull run It really need to rely upon pattern recognition because we're going to have these retracements out there Okay, so what does that mean stevie what that means if we take a look at the daily chart for gold And I go back here into the October time frame we're going to see this is a daily time frame. We're going to see our td9 count pattern So all that I've really high Highlighted out here our td9 counts and one of the tools that I teach folks So people don't know this pattern. They're trading that gold or trade any vehicle. They've got an opportunity They can subscribe to mastery probability They can do it for less than 30 days doesn't cost them anything and they will learn this pattern And we can see that the actual last bottom that formed on a daily basis inside of gold was a td9 count bottom Now this takes us back into the to this is the td9 count bottom that formed back here Back in the February time frame if I go back and take a look at the 2000 bull run We'll see all kinds of td9 counts out there So it's not as if I'm sharing with people a pattern that didn't exist and didn't work back during that 2000 bull run So it's one pattern that folks should be paying attention to I so I my conclusion tom With regard to has the next bull run in gold begun I believe the answer to that is yes until proven otherwise The proven otherwise would be more than a two month decline out there And I just think we're off to the upside and I think we're just at the beginning phase here Of this part of that bull run and folks it's really he heard what steve was saying about the and and I can tell you You know, we've all been around a long time The key what steve was saying Is that in all currencies? All you have higher highs because I remember the first time you figured that out steve Okay, yeah, and that's a steve rhodes deal folks Okay, because I remember the first time you figured that out in the broad market, right? Yes. Yeah, I know And that's so cool, man that you because that totally makes sense. You have more buyers, right? Yeah, you have higher highs right across the world, man Worldwide folks get over to our website at tfnan. It's right into featured content right hand side Mastering probability hit that baby. Thanks so much steve. Have a great one. Look forward to show tomorrow Thanks, Tom. Take care. Stay right there folks. Come right back