 The following is a presentation of TFNN. The Trader's Edge with Steve Rhodes. At 1-877-927-6648. Or internationally at 727-873-7618. The Trader's Edge. Now, Steve Rhodes. Good morning, folks. Welcome to the July 19th, the wonderful Wednesday edition of today's Trader's Zen Show. I'm your host, Steve V. 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 two-by-four shift, means we can find the gift in every set of circumstance that life is going to toss at us. Now, today you and I, we're going to go check on the circumstance of these markets. We'll go figure out what those bulls and bears, mostly bulls, and buyers and sellers, what they're communicating to you and I at just past 11 o'clock in the morning. I want you to know I'm absolutely grateful for your presence here. But 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, dial on in at 877-927-6648. Now, if you can't dial in but you've got a question, no problem. We've got you covered. Send an email, send it up early. Send it to Steve at tfn.com. And inside the subject heading, please put radio show question. Of course, if you're inside our Tiger's Den, well, then any and 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. Right now, you've got a rally going on. Slightly mixed bag. The mixed coming from the semis that are down nine points. So that's a quarter of a percent. The Dow is up 151. S&P is up 14. NASDAQ 142. Russell's up 7. Trendy's up 44. You've got gold trading down three bucks at 1977. Silver is up four pennies trading at 2530. Lights Recruit is trading out at 7621. That's a move of 55 pennies. They're flat in natural gas and a 30 Treasury. Pretty not 12704. That's up 11 ticks. Lead the charge dollar wise. The upside are Genix SE of 23 bucks. 4.5 percent. Elevance Health of 22 bucks. That's a big move. 5 percent. Mercado Lear Base 16 dollars. Thermo Fisher 15 and Carvada 13. That's a 33 percent move there. The shakers as mill holdings trading down 29 dollars. Nearly 4 percent. 17 dollars nearly 5 percent. Lamb Research nearly 2 percent or 12 bucks. KLA Corp down 10 dollars 2 percent. Omnicom Group is down over 10 bucks. That's an over a 10 percent move to the downside. Let's begin by taking a look at the... Let's take a look at Market Breath. Let's go to the short term timeframe. Market Breath for the NASDAQ in for the S&P 500. Here's the S&P. We are bearish at this moment. I mean there's only 82 instruments trading above 30 minute profile and 210 below the bottom of a 30 minute profile. So for the 30 minute timeframe for the S&P for the S-minute it is bearish. We've got a similar outcome for the NASDAQ 100. The NQ you've got 20 above and 32 below. We haven't seen that for days out here. So for the 30 minute timeframe there bearish that means we should look at 30 minute timeframe charts which we will in fact let me get that fired up here and then we'll pull over the 30 minute equity futures. We'll pull over the larger timeframe. So now we're going to take a look at 60 minute 240 4 hour timeframe as well as daily and weekly. Well when you take a look at the S&P 500 we're bullish across the board there and very well bullish. I mean on a 60 minute basis 285 above 88 below. So we want to find where's the support level on that 30 minute timeframe chart. The NASDAQ 100 the exact same thing too. Bullish across the board here. 60 minute you've got 51 above 21 below. So very bullish with regard to the other four timeframe. So now let's go see what's going on on the 30 minute basis. Let's switch over to that panel. Looks like I've got to adjust the charts. Things have gone off the rails here. Don't know why but they have. So let's get these white background charts up. Let's actually get them somewhat centered out here and see what kind of patterns we've got. Okay so with regard to the ES mini ES mini. You know it has roads meant to indicator signal hasn't generated the bullish reversal candle and prices pulled back to test support and support now is 4592. 4592 is the bottom of that profile. So watch 4592 a price close below that the signal would be a move back to 4545. We don't have that and the NQ thought that that senator did not. Now we've got it. The NQ has a TD 9 count top that still has not been taken out. It was attempted during that last half hour session but it still is held. In order for that to get negated it must see a close above 16 029 75. It has also formed a roads meant to indicator top out here. So you got two tops that make it better than one. No does make it better than three or worse than three. No it just makes it a top and what prices done whenever you get a top. This is the beauty of what really studying the intraday charts out here. Not so much for the signals. Although they're helpful but price is simply pulling back the test supports. We know we have negative market breadth on the top two the ES and the NQ for their 30 minute time frame that has pushed price back to support which is held. The support level for the NQ to be watching is 15977 to be a two consecutive closing below that that could open up the door to 15772. So for the NQ you know the top level that price needs to close above to tell you further rally and you know the bottom level or the support area I really should say you know the resistance and support levels out there where price closed above or below either of those is going to tell you what its intentions are. Right now it's just intentions are sideways move to frustrate you. We take a look at the Dow equity future contract this has formed a rosemate to mitigate our top. Shoot it's only by its testing the first level of support which is the green oscillator and change line its levels of support are down between 35.121 and 35.147 but it still is bull somewhat bullish it's neutral I would say because it's trading above that green oscillator and change line. No topping pattern inside the Russell has been strong like a bull for the last couple of days out here last several days. It's got to confirm A to B equal CD to the upside that is still trying to complete off inside the Russell 2000 equity future contract that A to B equal CD pattern would take us up to 2030. So 2030 is the target to the upside to the downside should the ES NQ decide to move ahead lower the Dow as well the Russell 2000 it's here if support to be watched would be 1984-10. So what we know here negative market breath right now in a 30 minute for the ES NQ price to pull back and tested support support is held and out the resistance levels get taken out those are the highs of the day that says a further rally should ensue. So hope that helps you out with regard to what's going on in the equity markets we do have a couple of questions that have come in so let's get to those the first one is from David H and David was writing let me actually close these charts out get rid of some resources out here David wants to take a look at Elevance Health ELV we talked about that earlier it's one of the stocks that is trading to the upside of the top five stocks that I took a look at but let's go take a look at where this is headed to and what it's doing. ELV is the ticker symbol and ELV is trading out right now at 468-68 so big move out there today big gap to the upside with price taking out its barest structured daily profile. The top of that profile out there was 451-77 let me actually read the question that would be helpful it says hey Steve give me your ultra short-term perspective on Elevance I don't know if I can give you an ultra short-term but I can do what I can. You've got the 450 calls they expire on Friday okay they had earnings this morning and it's a beat do you think it will take out the top of the 482 482 that's your swing point Steve Rhodes with TFD now we know what to look for and that's what we'll look for when we get back from the spring. 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 Kegstad's Tiger Forex report Teddy Kegstad breaks down the Forex markets every Monday using his 30 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 30 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's 60 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 30 day Tiger Forex report 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 Finishing it number two for the year an amazing accomplishment. 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TFNN Educating Investors toll free at 1-877-927-6648 internationally at 727-873-7618 Welcome back folks so we're taking an Elevance Health ELB as the ticker symbol has a night gap to the upside today and the question is will price from David H will price Pierce this candle here will close above and take out 480-209 that's the high from June 5th. Now there was 1.5 million shares of traded hands that day you're up already with 1 million shares so you're trading in that swing point with volume and even if price close below the low of that at 47108 and we're below that right now price will at least test 47108 or should test 47108 but your question is will price take out 482 and my answer right now would be no and the reason it would be no is you've got the volume as price tried to push up couldn't take that up what it's running into out here that we can take look at David is 480-45 and that's the weekly profile so at this stage here do you have volume absolutely you've got volume to take it out do you have a buy pattern you do have a buy the D point pattern out there you're looking at this really more from a short term perspective I looked at the short term time frame charge 5 minute 10 minute 30 minute and I didn't see anything there that to suggest that you jettison this position but really it's going to be that weekly profile that you're taking look at the volume behind it it does but it hasn't so those sellers that are sitting right out there at 480-45 those are those look like pretty good sellers out there so I hope that helps out with regard to elements hell thanks so much for taking the time to write in David in Panama City and I look forward to your next request out there our next request though goes to a G bolt here and that is a question about the euro and really the US dollars questions about the US dollar run higher so if we take a look at the euro which represents 57.6 percent I believe of the US dollar index what we can see here is we can see an A to B equal CD pattern what we don't see is the bearish reversal candle so we don't have a sell the D point pattern out here we do have a TD 9 count potential but in order for that to take place we would see need to see a close in the euro today above 1.1223 that's what the euro needs to close above if it doesn't close above it the current TD 9 count pattern will go away we won't have a topping signal and we don't have and but price could pull back to test support still one dollar and 111.113 at the moment that's a green oscillator and change line so if the dollars going to go higher which was really your question we need to see the euro definitively decide that it's going to go lower and the only way we'd get a definitive signal on that is to get a bearish reversal candle to sell the D point out there pattern or get a we need a bit more rally today for gold to close above that close of bar number five in order to generate a TD 9 count top on a weekly basis here there's nothing bearish about the euro we take look at its charts we take a look at the monthly time frame we would say the same thing we're above prior months highs the monthly chart could be signaling to that there's an A to B equal CD to the upside that would take us up towards the 1.19 level I can tell you and assure you that if that unfolds that the US dollar index is going to have lower not higher so with regard to the US dollar you've got the euro you've got the yen which is about 14 percent we can throw that up here on our screen too and see what that signal goes for right now looks like we might get a pullback in the euro which would put a little strength in the US dollar but we're not seeing the topping pattern that to really suggest the US dollar would take off but we do have the Japanese yen so we've got the USD JPY let's get that up on our screen here let's just take a quick peek and see what it is doing because I believe that it does have a topping pattern out there again only a 13.6 percent if I've got my figures correct waiting inside the US dollar index so here what we're going to see is a TD 9 count bottom and that TD 9 count bottom suggests that price should run up to 141 and change 141 and change is the oscillator and change line a price can close above that so when this chart when the US when the Japanese yen here is moving higher it's weakening against the US dollar index so we do have a situation right now where it looks like the euro will pull back and test its oscillator and change that looks like the yen will move higher to test its oscillator and change line and that would provide you globe G bolt out there that's provide the US dollar index with moving higher maybe into the top of that daily profile that we looked at here but is this one that's suggesting that we're going to take off to the top side well in the case for the N I can't answer that question it's got a valid bottom here and we really won't know until we see that 148 141 and change level tackled out there so what else can I show you with regard to the US dollar index let's see here we can do one more thing we can switch over to our black background charge take a look and see what's on those charts out here and here with regard to these charts you see the buy the D point pattern that is likely to form today but you've got resistance here at the 100.31 level so G bolt the answer to your question partly was due to as you know take a look at analysis of the euro the yen we didn't do the great British pound if you just do those three currency pairs you're at 100% of the weighting inside the US dollar index but what we also know is if the US dollar index going to move higher you know that it needs to close above 100.31 out there if I look at the weekly time frame chart weekly time frame chart has got a larger a to b equal cd to the downside that suggests it wants to get down to the 91.38 level we're below profile on a monthly time frame and the yearly chart probably should put it to a quarterly but the early chart you know is bullish out there so we got mixed signals out here so what I would answer your question the US dollar index is going to move higher you're going to need to see it close at least above 100.31 so that was a long route to get there but it was a route nonetheless so I do hope that that helps you out let's go take a look at the next question that came in this one is from Dan inside the Tigers Dan and Dan wants to take a look at Nike he's net short Nike you can see that Nike yesterday ran right into resistance the fact that yesterday's signal Dan is that the move in Nike was just a counter trend move I know you're looking to add to your short position you got that signal yesterday and that signal is price was trading below the bottom of a bullish structure profile as long as you trade below the bottom of a bullish structure profile for more than two bars out there for two bars at a minimum of two bars then if there's a move in this case here we're looking at a bullish structure profile there's move higher you don't see the Nike chart oh you see the dollar chart sorry about that and thank you thank you thank you thank you sorry hold on Stevie at Stevie asleep at the switch out there I hate to have to repeat myself because I know it just bores this living you know what out of you but it is what it is so now we've got the Nike chart up here okay so let's start back over bullish structure profile we're looking at the daily time frame price below for more than for two consecutive sessions at least two consecutive sessions counter trend moves my experience counter trend moves will find resistance really not at the bottom although can but really at that center line that's what took place yesterday and that's at one ten oh nine now dad I would not be that short if price close above one ten oh nine because that would be signaling to you and I that Nike wants to make a move to one fourteen twenty seven and that's the place where you could then get short but you got the signal yesterday today you are still below the bottom of that profile but here's the catch what we don't know what we do know is that two days ago price moved lower and found support at that oscillator and change line so that's kind of your risk reward kind of calculations out here and that's at the one oh seven oh seven one oh seven ten level as we speak right now so it's trading we know we got a level of support at one oh seven ten if you're comfortable that that's going to be taken out then now would be the time to add to that short position however let's take a quick peak here at a thirty minute time frame chart let's give Dan one more piece of information Dan that piece of information is this you close below one oh eight fifty one the bottom of that thirty minute profile you're likely down to one oh seven thirty one I hope that helps you out with the information looking for if not let me know and we'll get back to it Steve Rhodes with TFNN you're right Dan 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 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that's TFNN.com then hit watch Tiger TV that's TFNN.com then hit watch Tiger TV folks still a mixed bag the semis down 7 points about two tenths percent we're looking at the charts here for Bank of America BAC is the ticker symbol this is for Duncan Steve inside the Tiger's Den Duncan you've got the confirmed A to B equal CD to the upside we can see that prices along the C to D leg it's on the inside it's on the left side it's on the strong side that's an indication it wants to do more than a one to one it's already done more than a one to one because if you were to get a bearish reversal candle that would then generate a currently sell pattern so short of that price should continue to be fired there's no topping pattern what it wants to do is it wants to trade towards 34.56 that's on a daily time frame that's a daily TD 9 count breakdown area but I'd be more looking out for a bearish reversal candle than focused on 34.56 and the reason is because 31.66 is going to be the real next resistance level that's on the weekly time frame chart we don't know if this is just a consolidation with inside the weekly profile level that's between 27.39 and 31.66 31.71 is also a resistance area that's the bottom of its monthly profile so it looks beautiful but it's about to do battles and those battles again are between 31.66 and 31.71 you get above that then you're up to the races and those races should take you to 33 and I would say then would be between the 33 and the 34.56 level that you would be looking at that's what I see when I take a look at Bank of America this is going to be about the third consecutive move higher a day out there so we should it should be getting ready for a retracement out here maybe it waits until it gets up to that 31.66 so Duncan I know you're looking from a you wanted a short term perspective the shortest term perspective right now that I give you will be a 30 minute chart out here and what we don't see here is any kind of a topping signal and prices above a greenhouse that are designed above profile there's no reason that Bank of America should not continue to move higher so I would say the short term really would then be watch resistance at that 31.66 ish type area out there so hope that helps you out and thank you for taking time to ask for a request E.L.O. wanted to take a look at corn so let's go to Stevie's corny charts out here and we go take a look at those corn charts we're going to ignore the July contract out here this is a set of charts that I had set up and I wanted to trade the ETF corn which usually contains two or three futures contracts so I don't know what the three contracts are but right now probably corn contains September and December I don't know what the waitings are but you'd have to really look that up but with regard to corn and what E.L.O. is looking for right now corn looks like you're on the September contract that's the active contract that looks like that one's target 613 the December contract 616.75 those are both TD and I account breakdown with regard to bottom patterns out here I don't have it doesn't matter why because price is above profiles because we're trading above prior days highs we haven't taken we've even gotten close to yesterday's low or anything so corn looks like it wants to continue to rally now in the 30 minute timeframe charts out here for both of these timeframes price did form roadsman to indicator tops what price also did was it got back to its breakout level at 535.50 for the September contract 541 75 for December those areas yes there was a slight close below it but that was only on the first bar the second bar said oops sorry went a little bit beyond where I was supposed to go and that level has held now what you're looking at on a short term timeframe 30 minutes that is price running into profile resistance up at 548.75 and 555 September and December respectively so what you're looking for is if price can take out today's high first got to take out those profile levels today's high for September is up at the 557.50 level today's high for December is up at the 557.50 level those highs are taken out that's then going to tell you that the rally is ready to continue and make its way up towards those daily TD 9 count breakdown levels what happens if it doesn't close above it today well then you're kind of consolidating between the highs and between these breakout levels that we see on the 30 minute timeframe so ELO got out what a great band that is right I hope that that helps out if not let me know what additional information I can provide to you let me close out these charts here because I know that is hogging some of Stevie's resources will go to our next question which comes from Mr. Bill now Mr. Bill wants to take a look at DBA so we'll get over to those charts but he also wanted to look at the seasonal patterns so with regard to the seasonal pattern where do I have DBA is that it nope that was Bank of America let's go to DBA so here is DBA what Mr. Bill also wanted to look at was the seasonal pattern so we take a look at ah shoot okay I'm going to do this on a different screen here sometimes it weirds out don't know why that is but we're going to switch screens here we're going to take take a look at the seasonal now we'll take a look at the actual charts which are showing on my screen right now okay here's the seasonal pattern now we have 16 years worth of data this is the invest go agriculture fund so it contains a lot of different agricultural ETFs corn is very likely inside of that but you want to find out which future contract is inside there but what this is telling us is from a seasonal perspective for those instruments that are in there we're in the unfavorable seasonal time period that time period typically runs from about the early part of June mid-June all the way down into the October time frame and then we get a bit of a rally rally into early part of November pull back into early part of December than a move higher but right now as far as DBA let's go take a look at his charts it's kind of ignoring the seasonal pattern so maybe you don't pay as much attention to the seasonal there but you did want that information and now you've got it now let's go take a DBA charts but to really analyze DBA you must go take a look at what those futures contracts which what future contracts it holds what the percentage weightings are and then analyze those charts but with hard to DBA here's what we can see we can see that prices above the top of its daily and weekly profile price above its green awesome and change on for the daily weekly time frame those are all suggesting a further move higher to its most recent highs out here well that recent high took place on June 21st volume wise up there 607,000 shares so far today 351,000 shares that sounds to me like it's pushing into that swing point with volume and therefore a close today above 2194 just at least a test of 21 2213 2213 a price close above that on a weekly basis that would be closing above its dark cloud cover candle which confirmed a sell the D point pattern so again a close above 2213 would be very bullish for the DBA and then what would that signal to us that would then signal a move up to 2301 and 2301 is the top of the monthly profile so we go daily then we go to weekly and then we go to monthly and that gives us a good overall analysis of DBA the caution here is that DBA is taking its orders not from these tools it's taking its orders from each of those individual commodity charts that represent what is contained inside it right now today and I do not know what that answer is with regard to a 30 minute time frame chart out here for DBA there's nothing bearish here although there was a wave seven on the top but that was taken out during this session here because we saw a higher high so I don't see anything negative on the 30 minute time frame chart and it does look like DBA wants to continue to move higher so Mr. Bill thanks for being my wingman always letting me know when I am talking about a chart that I'm not showing up on my screen and that is a beautiful thing John Seawright said and he wants to take a look at Tesla I think we got the Tesla charts on this screen I do so now we got our multi set of time frame charts out here John Seaw with regard to Tesla let's take a look at this we get back from this breakout here but what you'll see today folks Tesla on a weekly basis look at the weekly chart what bar are we in the bar following bar number 9 on a weekly basis as we could see a top what do you see on the daily time frame you see a Rosemont Dominicator signal what does Tesla need to do to tell us that it has to do with Tesla now that's the question 0 to a T of an N 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 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 in 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 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in January of 2023 on a weekly basis did the exact same thing it was on January 6 specifically the week of January 6 was a bullish hammer candle that form so you got a monthly bullish hammer candle weekly bullish hammer candle both confirming by the D point patterns weekly now is in the bar following bar number nine as price approaches 313-80 313-80 is the TD nine count breakdown level for the weekly timeframe what should happen is we should get a top I believe Tesla is out with earnings today after the bell today or tomorrow something like that we should see a short-term top form this week now on the daily timeframe we can see that price moving higher to a less relative energy that is not a top the top would be a bearish reversal candle really in this case here we need to see both a bearish reversal candle and a close below its oscillator and change line which is currently printed at 290-290 now we're not likely to get that today doesn't look like we're going to get that going to today's close and if they are coming out with earnings after the bell hard to you know it may sell off but you don't know until tomorrow because that's not going to be reflected in my charts out here if I look at the intraday charts a hundred ninety five minute timeframe chart is trying to get a TD nine count top the hundred thirty minute chart is trying to form a TD nine count top this current bar here is going to close at it's going to close like right now and so this could form a TD nine count top at day's end the sixty five minute chart needs a bearish reversal candle to confirm a at a roads mint indicator top the thirty has negated a TD nine count top so we don't have any consistency or John C with regard to what is being communicated to us by the intraday charts for Tesla so I'm just making real simple Tesla what is it going to do after earnings no idea three thirteen eighty is the next resistance level up there that's the weekly TD nine count breakdown area we know that the weekly says prepare for potential top that'll get confirmed on the daily timeframe and not until then I guess would Tesla really be some kind of a short so John C I hope that help you out provided with the information you were looking for for TSLA thanks much for taking the time to write in McGuppy nice to hear from you McGuppy wants to take a look at AMD so let's get those charts here fired up AMD this will take just a moment I've got to get back to the spot where we're at AMD should be right here so AMD trading out right now about one seventeen sixty or so why do I have it at one eighteen seventeen because I've got a little bit of a delayed out here so what you're watching is this one seventeen sixty one which is basically where it's trading right now McGuppy what this is doing is testing one level of support that's a green change line so you've got resistance in essence this has a sell the D point pattern it looks like it does so bottom no I won't say it did bottom with a TD nine count pattern but here is what looks like I take it back it did bottom with a TD nine count bottom but here's your A to B point let's just move that over to the C point right there and you can see we got a bearer shooting star back on July fourteen so this has a cell pattern cell patterns tell us what we should move back to support well shoot based on that candle close on July fourteen price should have tested support well it did was the top of the profile the very next day price got down and test that one fourteen fifty nine it's work to the downside is basically done at the moment is tested two levels of support they've held it's tested another level today again that's that green awesome and change line but a close below one seventeen and change right now it's printed at fifty nine maybe just call it fifty nine that's the top of the profile just make it easy to get a close below one fourteen fifty nine you're back inside the profile price likely makes move to one ten eighty three one oh eight ninety six weekly chart looks so well the weekly chart has a cell the D point pattern as well you can see that bearish dark cloud cover that form out here the week of June sixteen what is price do pushes back and test support so what you know and I know John C is that support is held each time right now on these charts we're looking at where we've got topping patterns out here we also know the resistance is seldom we get to the monthly chart and resistance is up at one twenty five sixty seven one twenty five sixty seven is its TD nine count breakdown area also the top of its profile but I really be focused and that's at one twenty oh nine I'd really be focused more the one twenty five sixty seven to one twenty five eighty five area that's your real area of resistance other than the daily bearish shooting star level we took a look at so how would you summarize AMD I'd summarize it like this you got lots of TD nine we got lots of topping patterns out here even on the thirty minute chart which I haven't shown you but I'm going to know that's got a TD nine count top but when price all prices done is pulled back and test support which is held so AMD no matter what time frame we look at thirty daily weekly prices pulled back to support levels after forming a shopping patterns and they have held and that is to me and you that AMD is pretty darn strong out here so only close the Bly support only closes below support or Bly whichever you prefer would suggest that there's some kind of weakness in AMD I don't see it even though it's got tops so we've got to go with the overall neutral signal as we speak right now I do hope that helps you out McGuppy if not let me know and I'll get you the information you're looking for last request that I see so far whether it's in the den or via emails from Fletch Fletch nice to hear from you as well and Fletch wants to take a look at hood H double OD I believe that is the ETF for this hood the ETF for wood no it's not it's Robin hood Robin hood right now trading out at about $13 and change out here looks pretty strong it from a topping pattern what do we have out here we got not as zilch you got a gigantic a to be equal CD that's just in a hyperbolic move to the upside out here with no real bearish reversal candles forming after that June 2nd B point out here so price continue to head higher with regard to the daily time frame I don't know there's anything out here on the daily that's worth you and I looking at pattern wise even instead let's let's do this here Fletch let's look at the weekly time frame chart and on a weekly time frame chart you are bar number 8 and that tells us that we could or should get a intermediate term top between this week and two weeks out well shoot how do we know Stevie well that signal is going to come from the daily time frame so it says well we got to go back to the daily maybe draw an a to be equal CD pattern so forth the monthly chart is not providing you or I with any help out here so let's go ahead let's switch that charts let's switch past charting systems let's see if we can figure out the a to be equal CD patterns out here on the daily time frame or anything else that might help us alright so on the daily time frame there would really be two a to be equal CD patterns that we would draw in we're going to draw both in the first one takes all the way back to the lows from back in June of 2022 takes us up to highs in or on November 3rd of 2022 and our C point is a retracement all the way down in December 28 2022 the one to one a to be equal CD it's hard to call this an a to be equal CD because a retracement is 87% but I'll leave it in here anyways would be 1352 let's draw the second a to be equal CD pattern the second pattern the C point of that a to be equal CD becomes the a point now of the B points going to be the high for the trading session of February 2nd 2023 the C point is the low that came in after that that's May 4th you can see we are now at the 1 to 1.272 a to be equal CD Stevie can you draw on a third a to be equal CD pattern sure happy to do that here's the third one we started that C point of the last one that we looked at that's the a point B point out here I would put that right up here at the trading session of the high on June 16th a couple day pullback and there's your third one that's a 1 to 2 a to be equal CD what you're watching for in hood is a bearish reversal candle to confirm a sell the D point after 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 crystal ball T FNN educating investors you might 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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 welcome back folks so it does look like Robin Hood we took a look at it we took a look at that bar number 8 on the weekly time frame says we should see a top between this week and the next couple of weeks how we're going to know if we're going to see that we took a look at the adb equal CD patterns inside of the daily time frame the first bearish reversal candle will generate a sell the D point pattern and that may be the signal now that we're going to see that we're going to look at the adb equal CD patterns inside of the daily time frame the first bearish reversal candle will generate a sell the D point pattern and that may be the signal now that signal might only take us back to support which will be the green oscillator and change line right we're taking a look at that and how that works today all right let's go on to our next request the next request coming from sat p wants to take a look at an entry point for 3M and MMM is a ticker symbol which today is testing resistance we've seen this rodeo before prices tested the in with inside the profile that is trading in you have to say 101 point oh one that would be a screen oscillator and change line uh... is there anything else I see out here for 3M if I look at a 30 minute time frame chart by the way profile support will be 100.21 so your buyer would be between 100.21 and 101.01 out there and on a 30 minute time frame nothing here that's helping us so right now sat that's with. I hope that that helps you out. Bruce writes in and Bruce says, Steve, do you see the spy pulling back in the next few weeks out there? Well, to answer that question, we would go take a look at these charts. These are those, nope, not those charts. Let's try these charts. No, not that set. Let's try it one more time. There you go. The third time is the charm. The answer to that question is going to be revealed to you next week, Bruce. Why? Because this is the completion of a weekly TD9 count topping process. This is the bar following bar number nine. Much like we took a look at inside of Robinhood, while in the ESMini here, its daily timeframe is showing a rogement indicator signal. That says that if we get a bearish reversal candle, that will confirm a topping pattern. The weekly will have a TD9 count top and that would then suggest we pull back. Now pull back to where? I don't have the spy charts up here right now. I'm just taking a look at the ESMini because this is where we see the patterns out here. The first price pullback in the ESMini would be towards the 45-61 level. 44-23 would be another one. But we don't have that signal just yet. Are we anticipated? We are. But if we close above whatever this week's high is next week, that is then off the table. Folks, day two for great programming. I'll be back with you on terrific Thursday. Please have a wonderful Wednesday. Be safe out there. We'll see you again. Take care.