 The following is a presentation of TFNN The 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 morning folks. Welcome to the October 12th the terrific Thursday edition of today's Traders Edge show I'm your host Stevie 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's having a great day Hey, 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 make that one little two-by-four shift means we can find the gift in every set of circumstance that life is gonna toss at us Now today you and I we're gonna go check on the circumstance of these markets We'll go figure out what those bulls and bears what those buyers and sellers are communicating to you and I at Just past 11 o'clock in the morning. I want you to know I'm absolutely grateful for your presence here, but even more important than that and that's this during this next 53 minutes I am here to serve you So feel free to pick up that phone. We'd love to hear from you at 877-927-6648 Now if you got a question, but you can't pick up the phone Send me an email send it off to Steve at tfnn.com inside the subject heading Please put radio show question. Of course if you're inside our Tigerson will then any in every ping will do So let's go ahead and get this show started on terrific Thursday, of course This is tiger financial news network. I'm Steve Rhodes. Welcome to the show Right now. We got a mixed bag out there The mix goes like this is dows off 103 in the SPS down five three tenths and one tenths about three tenths the upside for The Nasdaq 41 points one and a half percent down for the Russell 26 points 41 points the upside for the summaries That's a little over 1% move there trannies off 148 Gold is off three bucks Silver's down 20 cents lights recruiters up about 14 natural gas off a penny 30 your treasury printed out 112 22 That's up 22 ticks leading the charge dollar wise to the upside. You've got broad come 27 dollars 3% KLA Corp out here is up about 5% or 22 bucks Granger worldwide 3% 21 bucks lamb research 21 bucks 3% adobe 3.5% that's a 19 dollar move to the downside Alpha metallurgical resources out 32 bucks 12% shockwave medical 11 bucks 5% restoration hardware 11 bucks about 5% inspire medical down 11 bucks Now nearly nearly a 7 point percent move and top build is built into the bottom down 10 and a half dollars That's a 4% move to the downside. So we got movers and we've got shakers But what we're going to begin with here is this move inside the US dollar index Now I've got a 10 minute delay on this and shows it being up 531 ticks as we speak right now train out 10610 if we take a look at there's a new profile inside the US dollar index It is attempting to form we want to have confirmation until days end the bottom of that profile You can just jot this down on your pad of papers 105 46 center 105 81 We're well above the center that suggests run to the top and that's at 106 87 If we do that, what's the US dollar likely to do is they're going to give the market conniptions Well, if we take a look at the correlation chart the correlation chart that will pull up Right here is for a three-day period up at the top You've got the ES mini below that the US dollar index and then below that the correlation bars that are above zero Tell us about a directional correlation mean they both move on an over a three-day period in the same direction The bars on the bottom tells us about an inverse relationship We can see that it's probably 90 percent of the bars 85 to 90 percent of the bars are below zero for their three-day average So Well, we'll assume that if in fact the US dollar index is going to move higher That we should see the es mini move lower We know that the es mini is up at the top of its daily profile Of course, we'll take a look at that during the show as well. We know that about the es mini Let's take a look at the goldilocks up here. So we'll just change this is going to take a moment to calculate and And to replot itself But we will get that same directional correlation with regard to gold and the US dollar index So just simply want to go ahead and establish that here. We can see that metals is the same three-day average Have got a stronger much stronger correlation In this case here an inverse correlation than the s and p 500 does that's important To be paying attention to because just simply because the US dollar index Likely going to move higher does not mean that we should see the es mini move lower. It's got a pretty decent Set of odds, but I'd have to say and take look at goldilocks here We're more like 90 or 95 whereas in the es mini. We were more like about 80 85 percent with regard to its correlations out there So that's the first thing to establish. Why do you want to establish that? Well, because we want to do next is try to understand what's going on inside the US dollar index And here's the interesting thing. You'll see that momentarily Or we get over to those charts and actually the first chart that I'll put up Now this chart here because I'm using the data feed that I have up right now It's like I'm not getting the live data feed for the US dollar index Um, that's okay. What I want to point out to you what I want to show you is that a teeny nine count top Is going to complete this week Teen I count top will complete this week that suggests that we have a top and that price should continue to move back So now where I do have a live data feed is when we take a look at the three currency pairs Or three of the five currency pairs that make up the entire index the three most important And that being the euro the yen and the great british pound These three make up 83 percent of the total waiting out there now What I want you to pay attention to is the bottom row of charts out here These are each the weekly the teeny nine count pattern that we saw inside the US dollar index Well, guess what you're going to complete a teeny nine count bottom in the euro A complete a teeny nine count top inside the yen complete a teeny nine count top inside the great british pound Now the cool thing about that Is that if we see it closes below or above that teeny nine count It would be below for the euro below for the great british pound and right now Let me give you those numbers in the case of the euro The level to be watching come next week and beyond is 1.0448 if we see it closed below that The euro is basically toast and toast will take it down to 97 cents out there That would be its longer term target in the case of the japanese yen When the japanese yen is moving higher on this chart the japanese yen is getting weaker That means that the us dollar index would get stronger So the number to be watching at this age now its pattern completes this week I'm going to give you the high from last week, but we still have tomorrow It is possible that the yen could take out that high that would be then the new number But right now the number is 150.16 If price begins trading above that that's with the caveat being we need to still see tomorrow's close And let's assume that it's underneath that level if we begin seeing price trade above that That tells you about a strong momentum to the upside or a strong weakening for the yen That would put more momentum inside the us dollar index For it to get stronger in the case of the great british pound Price is going to form a teeny nine count complete a teeny nine count bottom pattern Right in its breakout level of support, which is at 1.201 Now that becomes a support level. I'll give you the number on the weekly Great british pound which is at 1.203 But we want the real proof here and that real proof would be a close blow 1.201 If in fact the pound does that the pound will get weaker the us dollar index will get stronger But on a weekly basis and this is what I want you to understand here And this is really important because these again these three currency pairs represent 83 percent of the total So you're going to want to watch each of them right now on a weekly basis Also, we've got on a date on the weekly base for the us dollar index We should see a pretty significant top inside the us dollar index and that takes us back to that daily profile That's attempting to form out there. I believe I gave you those numbers. I know I gave you those numbers out there So we'll want to watch price how it reacts there Does price take out 107.05 if it does that it tells you you're off to the races to the upside That should put pressure on metals and likely the equity markets will be right back Currencies commodities and bond markets are as important as ever right now with how they're driving the volatility in equity markets across the globe Which is why it's a great time to try out teddy keg stats tiger forex report Teddy keg stat breaks down the forex markets every monday using his 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 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 basal chapman creator of the trading methodology known as the chapman wave The chapman wave up down sequence gives you an edge in identifying price turns finding the peaks and valleys and stock prices Get the opening call newsletter by basal 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 Steve rhodes started his trading career as a student almost 20 years ago and the student has now become the master Steve won the prestigious timer of the year award in 2018 and barely missed that mark again in 2019 Finishing it number two for the year an amazing accomplishment Steve rhodes is committed to sharing his techniques and knowledge with anyone who wants to learn And he shares his vast amount of trading knowledge every day in his mastering probability newsletter Steve's award-winning newsletter Mastering probability is delivered every trading day with updates throughout the afternoon Sign up for steve's market newsletter Mastering probability and you'll receive access to seven of steve's educational webinars Absolutely free at tfnn all our newsletters come with a 30 day money back guarantee So you have absolutely nothing to worry about visit tfnn.com and try mastering probability 30 days risk free today tfnn educating investors At seven two seven eight seven three seven six one eight Back folks. So the tool the chart that we have up on our screen right now. This is the s&p 500 This is over the last 95 years out here and what we're looking at this since this is a pre-election year We're looking at the pre-election year cycle that's out here now that red vertical line that tells us where we're at today And the rest is just simply the average of each of those years that are checked up there Um, so we got that four years Another four year cycle if you will So the question is has the market been following along on this cycle? Is this the pattern that's in play here because if this is the pattern that's in play This is suggesting that the rally stops right around now and we continue to move slower into november So you don't see the cycles Um, you don't see that chart. Oh, thank you. Thank you. Thank you very much We got to be appreciate that thought we had it now you're going to see it here momentarily So sorry about that folks, but now we've got the proper screen up So here is a 95 year cycle this for the s&p 500 Each of these boxes that are checked are the pre-election years that comes with that that generates a four year cycle force Again that red vertical line where we're at today So the question I pose is is it possible that the market is following along with this cycle out here? If we take a look at this cycle what we see out here is we see a top right around the july 11th july 12th time frame out here Well, let's go take a look at what took place inside the s&p 500 Here I showed that the top came in july 27th versus july 21st out there Um, so I think when I use my you know, I was just using my my cursor out there I showed it when I really did the detail work out there that it was july 27th So when we got the top versus july 21st out here, then that showed us moving down into the august 18th area But where versus august 9th as we use these dates as as guidelines The march 13th bottom that came in out here with regard to the s&p 500 that lined up exactly with that Presidential year seasonal cycle Out here and with regard to it's high that usually comes towards the end of january early february That came on 2 2 versus 2 16 So what does this now tells this tells us that the next low that we should see out here in the market Should be around october the 18th about a week from now So we take a look at what's going on inside the us dollar index and the components there The interaction that it has with regard to the markets. Okay, that's plausible That should then lead to a little bit of a rally Just a few day rally into the Last week of october. Let's call it october 23rd And then markets should move down all the way to november 22nd So here is the actual s&p 500 For the uh presidential uh pre-presidential cycle out here. Here is that chart identifying those highs and lows out there Is this a cycle? I don't know is another possible cycle We could just take look at a 25 year period of time again We can take a look at the pre-election years and if we take a look at those this is another possible cycle out here This shows us having the top right around today moving lower into uh next week about a week from now on october the 19th out there and then markets would presumably move higher into the end of october Setting up a sideways consolidation out there. Is that the pattern? I don't know or is the pattern here It just simply is not paying attention to give me help. I think I ran into this problem yesterday. Let me try this Come on get over the nasdaq. There we go. Now. Let me get back the s&p 500 out here I don't know why I have to do this. I did this yesterday. There we go now Let's put in uh where we're at today or is this the cycle now. This is the traditional cycle This is the annual cycle. This is a full 95 years worth of well. I'm sorry. This is 10 years worth of data Let me put up 95 years worth of data out here So here's the 95 years worth of data 95 years worth of data Says that we typically get that bottom at the end of october this for the s&p 500 And then that really begins the santa claus rally out there Look if this is the cycle that it's uh, uh, that it's following along this too suggests That we should see some kind of short term top So our analysis of what's going on inside the us dollar index our analysis of understanding of what's taking place inside The equity futures markets here with the es many running right into the top of that daily profile up at 44 16 50 Being unable to take it out with the nq trading into the resistance zone that resistance zone is of the, um A bare structured daily profile between 15 298 and 15 509 the dow running right into the top of its daily profile The high today for the dow has been 34 153 34 166 is the top of that daily profile out there And then you've got the rustle 2000, which is the weakest of the four So we're running up into this resistance. We know the spot follow tunics is also testing that 50 day exponential moving average area out here It is trading below right now 1608 is the number to be watching at day's end so Is the market getting ready to top is it getting ready to top and we see just simply the market move lower into the end of the year Well, let's go take a look at the magnificent seven right the nasdaq is the one that has pulled us higher What is the magnificent seven doing out here? So that's a great question Of course, I think it's a great question because I asked it But maybe you were asking it too. So to answer that question. What are the magnificent seven stocks doing? Well, it turns out that five You don't see the eight panel. You shouldn't see it now. I'm a guppy five of those of those seven stocks We'll complete or have already completed a TD nine count top. Let's take a look at apple Apple is going to form bar number nine today. It'll complete that pattern tomorrow Microsoft is going to complete bar number nine today. It completes that pattern tomorrow Google will complete a TD nine count top today. It completes that pattern tomorrow Amazon a world of its own It has a TD nine count bottom price above profile above It's also in change line. It wants to move higher Nvidia negated a TD nine count top. It too says it wants to move higher Tesla has already completed the TD nine count top that should take price back to it's also in change line 259 and change is the print and the price gets below that Then we're looking to move back to 250 32 or 246 39 And if we take a look at facebook meta out here, it's going to confirm a TD nine count top today It'll complete that pattern tomorrow. We can see the Q's are only in bar number seven But let's presume that this gets up to bar number eight. It spikes today's high Whatever today's high is it too would likely form or complete a TD nine count top But five of the seven of the magnificent seven that is are showing us topping patterns that either have completed Which is really for tesla or the other four will complete today will confirm today and complete tomorrow So I'd have to say the answer here is yes We should see doesn't mean we will see but we should see a further move lower Inside the equity futures and it should be led by the magnificent seven to the downside So if you have ridden the NASDAQ to the upside what steve suggests is to pay attention to these charts Don't have to take any action per se. I would tighten up my stops That's most certainly something that you would do Remember these patterns can fail They absolutely can fail out there But right now what we're trying to do is we're trying to master the probability of what the market is communicating To you and I and so at this stage of the game It's saying prepare for a top now if we just simply take a look at consecutive days Higher consecutive days lower, you know how we like to take a look at the dance steps of the market Let's try to pull open that set of charts at least for the cash indices And he's I'm just referring to the s&p the dow the NASDAQ and the russell 2000 We can see that we've had four consecutive moves up inside the s&p 500 So a pullback for two or three days would be normal price target 43 12 and the NASDAQ 100 This could be day number five to the upside out there That says prepare for a retracement the dow jones was up to four days the russell was up for five We want to watch that oscillator and change on the russell 2000 you close below that That says you head back to its lows steve roge with tfn and we'll be right back bold report As a precious metal gold is still king It continues to hold the most effective safe haven and hedging properties across the global major trading hubs of the london otc market The us futures market and the shanghai gold exchange the gold report Tom o'brien publishes his weekly gold report every monday morning for subscribers consisting of coverage of the xAU hui gdx the dollar bonds the south african rand As well as 25 different mining equities with specific buy sell recommendations The gold report New subscribers get a 30 day money back guarantee. 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That's tfnn.com and hit watch tiger tv Welcome back folks No answer tfnn. Well, okay, so we've got a couple requests out here I'll definitely get to that john. Let me just go in order here And we've got some requests in the first one coming from not a trader And when they like to know what the next level of support is for general mills not a trader is short So the next level of support for general mills is going to be 59 90 How do you like that was 59 90? Well, if you take a look at the monthly time frame chart out here Not a trader generates a roadsman to indicator top Price is now below well below. It's a bullish structure and a monthly profile out there It's next level of sport is 59 90 that can be a bottom if it is going to be a bottom You would typically see some type of bottom pattern on a weekly or a daily time frame the weekly negated It's td9 l bottom and it did negate that last week That suggests much lower price out there Strong momentum move now it also at 61 41 Is a td9 count breakout level of support? So watch that come tomorrow. You want to see price close below that even though it negated this td9 count bottom Pulling back to a breakout level can be a support area. So i'm your short. I'd like to for you I'd like to see a close below 61 41 that gets us down to the next swing point Which is from september back in 2021 that's down at the 56 67 level That's from the weekly time frame chart If we take a look at the daily time frame chart the daily time frame chart says All you have to do is watch for a bullish reversal candle If you get a bullish reversal candle, which you're not going to get today. Well, I don't think you'll get that today Then um, uh, you would or could generate a roadsman to indicator bottom We don't have that pattern just yet everything here suggests to stay short Still watch that breakout level on the weekly and then of course the breakout level on the monthly at that 59 90 level You wanted the next areas of support on the way down You got them. Hope that helps you out Next request coming in from a duncan steve and duncan wants to take a look at marvell m rvl is a ticker symbol out here Just looking for its short term direction So when I take a look at let's start here on the daily side Let's start on the left hand side What we know is that yesterday price closed above the top of its profile closed above resistance It's trading above it right now it being 5506 So you close above that today 5506 suggests higher price out there Short term direction would be to the upside on a weekly time frame chart It has a td9 account bottom when you form a td9 account bottom price typically makes its way to its oscillator and changeline That's currently printing around 57 and change out there That says it wants to move higher Daily says direction is higher weekly says direction is higher monthly says might be higher But I would really get on the higher bandwidth if you can close above its green oscillator and changeline That's at about 56 39. It won't be exactly at 56 39 But a price can close above that that would then also suggest higher price. So right now daily weekly say higher Let's take a look at our consecutive moves higher and lower out here Right. We're looking for some type of pattern the pattern to the upside here in marvell We can see a six day move a five day move a four day move On moves to the downside. They were three and four bar rallies out there You're only in bar number three today. You've got a bottom So this marvell could easily go on to make four five six Trading consecutive sessions to the upside out here So I don't see a reason that uh that this suggests that price won't move higher In fact, I think just the opposite the last piece of evidence out here would come from that 30 minute time frame from marvell Let's see if we've got anything out here. The only thing we've got is we've got a wave seven top That formed out here at 10 o'clock. This was uh the on the 11th yesterday That's a real strong resistance level. So your resistance on a very short term basis is up at 55 96 I don't have anything to suggest that it won't try to target that level out there So dunk and steve, I hope that helps out with regard to marvell why we believe it's likely to move higher With the markets perhaps moving lower out there That's the only word of caution that I would throw out there for you So I hope that that helps you out and thanks so much for taking the time to write in Dizzle is short silver. Dizz wants to know just how far can silver head So let's go take a good those charts out there. If you give me a moment, we'll get to the silver charts Hi-ho silver that is And I just want to make sure there's no new profile. I'm going to look on another screen out here That would pick it up early and there is not so how low will this go? Your first downside price target on silver is 21 78 not to be exact, but to be exact 21 78 now That 21 78 number the spet 78 area can change by a couple of pennies or two That is the red oscillator and changeline The first level and it's trading below it right now and you're short silver It really like to see silver closed below that 20 2203 level that was the top of that silver profile if it closes over it That could be trouble Could be trouble. We know the us dollar index. It's not a roll looks like it wants to roll much higher than that But watch 21 70 will first watch the top of that profile 22 oh three it closed below that 21 78 Does that mean that's where silver stops? No If you get silver below that red oscillator and changeline Then it's likely you head back to its bullish structured zone area between 21 14 and 21 44 Now on a 30 minute time frame chart, and this is what you might want to watch out here, disil You have a td 9 count bottom pattern that has completed Well, you should at least see now that you should see a rally inside of silver That would take it up to about the 22 13 level that on a 30 minute basis is its oscillator and changeline We know that number will change, but that is the price target area Likewise, if you get a closed below the low of that td 9 count pattern and that low out there So this is also something else for you to watch that low is at 21 91 A price can close below 21 91 the 30 minute chart says strong momentum move to the downside And that brings those other price targets into play 21 78 to be exact so disil Did that answer the question that you were looking for? I hope so But if not, let me know and we'll go ahead and get that info for you The next question or request coming in from joe this coming in by email And joe wanted to take a look at the gdx and his question is buy sell or hold So let's get to the gdx charts out here and actually let's do one other thing Let's switch from these charts momentarily and let's go take a look at a correlation chart So we'll take a look at the correlation chart Pull that up on our screen out here And what we're looking at now is a correlation between the gdx And the us dollar index Because we've already established it so far everything that we're looking at looks like the us dollar index certainly wants to move higher So the question is buy sell or hold out here Well, if we take a look at that us dollar index chart compared to the gdx We see that it's probably about a 90 to 95 percent Inverse relationship out there and again, this is a three-day average now Let's go take a look at charts for the gdx try to get a feel for what they are doing out here So here we take a look at those gdx charts Well, we don't see on a daily time frame is a topping signal What we see on the weekly time frame As we see price dealing with Support resistance the resistance happens to be the bottom of that profile and that's at the 2784 level You're at 2788 right now So you want to watch that area price has made its way up towards its red oscillator and change line That would have been the secondary level of potential resistance out here So the gdx on a weekly basis says Something to think about on the daily time frame. Where would the gdx pull back now? I don't have a top out there But if it's just pulling back in sympathy with the us dollar index moving higher So this wants to move lower its next level of support on the way down would be between about 2711 to 2725 Your question is buy sell or hold out here And that's a tough one But that you it depends where you got in on this trade and everything But it does look to me like the gdx wants to move lower And most certainly wants to do that if the us dollar index is going to move higher Steve Rhodes with tfn we get back where to take a natural gas for john inside the type of 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 basal chapman creator of the trading methodology known as the chapman wave The chapman wave up down sequence gives you an edge in identifying price turns finding the peaks and valleys and stock prices Get the opening call newsletter by basal 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 for the fibonacci 24 7 newsletter at tfnn.com When you subscribe you'll get a weekly report from veteran day trader larry pesavento on stocks You need to pay attention to and you can trust larry's analysis After all he's got 45 years experience as a day trader larry will also provide daily charts videos And data on the key markets that he's tracking expect notifications from larry on market movement You need to act on at any time first time subscribers also get a 30 day money back guarantee If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up Subscribe to the fibonacci 24 7 newsletter today tfnn.com educating investors Are china a shares hot or not? If you trade china a shares now may be time to take a closer look trade chau or chad Directions daily csi 300 china a share bull and bear etfs china a shares in either direction Visit direction investments.com today an investor should consider the investment objectives risks charges and expenses of the direction shares Carefully before investing the prospectus and summary prospectus contain this and other information about direction shares to obtain a prospectus or summary prospectus Please contact direction shares at 8664767523 the prospectus or summary prospectus should be read carefully before investing An investment in the funds is subject to risk including the possible loss of principal The funds are designed to be utilized only by sophisticated investors such as traders and active investors distributor four side fund services LLC This program is brought to you by vista gold traded on the nyse american and tsx under the symbol vgz So we'll take a look at the natural gas a cyclical cycle. This is a 32 year You're 32 years worth of a date out here What this tells us about natural gas if price were falling along an analog like this It tells us the only successful month for trading natural gas is march into april In fact, once we get into october november and december it basically looks Pretty horrible with regard to natural gas now We know that natural gas seasonally over this same 32 year period of time makes a bottom around july 21st out there This year's bottom really came in at the june time frame So not too bad, you know, we didn't we haven't really moved a ton But we did get a bottom this year in a june of 2023 out there Versus the seasonal cycle that comes in around july the 21st That's good enough for my work out here. So this says that natural gas should form some type of short-term Or the the the next major top Should come in by next week out there So let's go take a look at the natural gas charts out here to see what they're doing We're going to switch over to a different set of screens out here and as we do that We'll see our eight panel set of charts here for natural gas So start with the monthly chart monthly chart out here shows us that bottom making a june of 2023 That actually was a buy the d-point bullish and gulping candle price just trading with inside its profile finding resistance to the center On a weekly basis, we've got a roadsmen to indicator bottom that was confirmed on june the 16th out there Price consolidating with inside its profile strong resistance is at the 3.4 1 4 level if price could close above that Brex would move up to 375 on the daily time frame $3 and 43 cents to the td-9 count breakdown level it has Tested and rejected that price three different times out here So you can't bust them the upside to try to bust on the downside Well on a daily time frame the bust them to the downside would be testing support and support right now John remains at between 314 and 317 That is the bottom of a new daily profile that is attempting to form inside natural gas We'll have the confirmation of that come tomorrow. This is a bearish structured profile That says if price closed below 3.341 Odds favor that bearers sellers will be able to push it down to the bottom of that profile $3 and 14 cents Now a 60 minute time frame chart formed a td-9 count bottom Let's just simply open this up So we had a nice bottom pattern that formed out here that was at that 8 o'clock this morning and what did price do We saw a nice little rally But all that was was up to its td-9 count breakdown resistance level at $3 and 39 cents Yes intra period this is a 60 minute time frame chart So intra period during that hour price certainly screamed above that level, but it's really about the close It's really about the body the candle and not the screaming me means the upper and lower wick out there That's just the emotional Aspect that took place during the hour. So resistance held 3.39 for that's level to watch If price could take that out that would suggest a rally likewise If price pulls back and closes below that td-9 count bottom And that would be at 3.299 the most assuredly price of natural gas would run lower It would likely target that swing point from 11 o'clock in the morning yesterday That would be between the range of 3.225 and 3.276 So how do we summarize natural gas? I think we summarize it like this. We know that resistance is held up at 3.43 We know we're coming into a very Unfavorable seasonal time frame out here Nonetheless, let's just trade the patterns and right now the pattern says watch price should have pulled back Where it should find support at about three dollars and 14 cents So john, I hope that that helps you out with regard to natural gas If not, let me know specifically what you are looking for and I'll be happy to get that now My apologies. Somebody had written in and I've now lost it. Oh, here it is. It's pickup. It's right there on this page about corn Would you buy corn here? Daily appears to be at support to you. So let's close up these. Well, first, let me do I'll come back to the corny question out there Momentarily, let me just write this down Let's go in order here because we had g-man inside the tags and ask about google So let's pull up those three time frame charts out here daily weekly and monthly Let's go ahead and put google and I believe google is going to complete a td9 count Confirm a td9 count top today in this daily time frame and we'll complete that pattern tomorrow So let's put in google see where we're at I'll with regard to how it is trading out there and uh I'll just give you the rundown. I don't recall what your question was. I just wrote down google for g-man So that I could get to so here's what we're looking at today is going to form bar number nine of a td9 count That says that this pattern completes Tomorrow, so we've got a td9 count top that should form between today and tomorrow What price should do in google is price should pull back to its Oscillator and change line and that's pretty right now at about 138 72 that number will move lower Should price move lower as well if we take a look at the weekly time frame chart What do we have out here? We don't have any kind of top whatsoever Which makes this kind of a cautious um Call on the daily td9 count top it has support about 130 707 But the monthly chart is going to form bar number eight So on a longer term basis google says that a td9 count top monthly td9 count top could form between October and december of this year by the way the last significant top inside of google was a monthly td9 count top The last significant bottom in google was a td9 count bottom that says we should be pre We should be paying attention But both of those instances took place either on bar nine or the bar following bar nine right now We are only in bar number eight nonetheless. You should at least get a short term top in google by tomorrow That should go ahead and pull back towards that 138 72 level out there. So g-man I hope that helped you out with regard to google Let's take a look at corn. Let me see if I can pull up my Multi time frame charts here for corn now. I may not have the correct month in here We can change that but let's pull up those charts And uh, see what corn is doing and try to answer McGuppy's question is corn a buy here and corn has just been building a base moving sideways really for several months When I say several months going back to the august timeframe out here So we do have the december contract. So we've got the active contract now on a monthly basis Corn has got a beautiful td9 count bottom. So you want to watch that low that low by the way It's off the december contract 467 75 a price closing below that then corn would want to make a move to 4 27 50 The weekly time frame chart has a roads meant to be indicator bottom That formed all the way back here with that bullish hammer candle That was the week of august 18 that low has been tested several times, but it has held out there So the resistance level for corn here is 50465 The counter trend move for corn where this would have got a bounce where a counter trend rally would end If that's all that it were would be 5 18 55 and on the daily timeframe chart out here All you see is that sideways base that it has been building out here Most likely this is a base to move higher I don't have any kind of a bottoming pattern out here, but it's a long base This base can go on for quite some time. The question was is corn a buy right now Let me just draw in that Rectangular base out there. I'm sure everybody can see it Out here. I don't know if it starts right there. It looks like you have probably about great right in there or so So there's our base and won't let me So you can see that sideways base So where is it the best to buy corn then if this is just a sideways base out here? Well, one spot could be right now It could be that oscillator and changeline which price is testing by the profiles for 80 20 But since it's building this base out here, you'd like to do it at the bottom of that base And that's all the way down at 467 75. I'd be patient the guffy. There's no reason to rush into corn At least not when we take a look at that daily chart out there. Steve Rhodes with tf&m will be right back Currencies commodities and bond markets are as important as ever right now with how they're driving the volatility in equity markets across the globe Which is why it's a great time to try out teddy keg stats tiger forex report Teddy keg stat breaks down the forex markets every monday using his 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 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 tf&m dot com tf&m 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. 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That is vin fast auto Says looks like its base is forming here I'll tell you one thing vin fast auto was very fast at taking people's money Look at this doctor this thing. This is one of basal chapman's eiffel towers. This thing comes public It looks like on august of 15. It runs all the way up to 95 dollars. The actual high was 93 bucks Even steven He even has basal one of basal's round number highs and since then it has been trading lower out here There's a lot of shareholders that are in pain out here Even if this does start to move higher out there There's gonna be a lot of people just trying to get some of that money back. Is it building a base? I don't know is it got a bottoming pattern Look it's negated two or three two different td9 count bottoms already out there That doesn't have a rose momentum indicator signal just yet Me i'd stay away from vfs out here doesn't look like a really fun party out there, but that's just tv So let's try to wrap up this show. We took a look at the us dollar index We took a look at the components of it the euro looks like it wants to continue to move lower That puts strength inside the us dollar index the yen looks like is trying to run higher If it closes above that oscillator and change line That's up at the uh 149 77 That would say it definitely wants to run higher the great British partners move a lower Each of those are going to put strength inside that us dollar index The question that was posed or i posed myself was what that what does that us dollar strengthen us dollar index do to the Nq we took a look at the magnificent seven we saw five of seven those are going to have td9 count Topping patterns, but to answer that question It's about a 50 50 relationship between the direction of the nq and the us dollar index It's looking at a three day period of time and this takes us back to the beginning of the year It's about 50 50 as best i can tell folks. Have a terrific thursday. I'll see you on fantastic friday Be safe out there take care