 The following is a presentation of TFNN. The Trader's Edge with Steve Rhodes. Toll free at 1-877-927-6648 or internationally at 727-873-7618. The Trader's Edge. Now, Steve Rhodes. Good afternoon from TFNN. Welcome to the May 7th, the terrific Tuesday edition of today's Trader's Edge show. I'm here with Steve 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 have an extraordinary one. And of course the easiest way to do that, it's to always remember that life is happening for us, not to us. That's right, when you and I make that one little two-by-four shift, it means we can find the gift. In every set of circumstance, that life is going to toss at us. Today, you and I, we're going to go check on the circumstance of these markets. We're going to go figure out what the bulls and the bears, what the buyers and the sellers are communicating to you and I just passed one o'clock in the afternoon. I want you to know that I'm absolutely grateful for your presence here, but more importantly, I'm here to serve you. So feel free to pick up that phone, dial on in at 877-927-6648. If you can't dial in, we've got you covered. You can always send me an email, steve at tfn.com inside the subject heading. If you would be kind enough to put radio show question, of course our Tigers done any and every ping will do. So let's go ahead and get this show started on terrific Tuesday. Of course this is Tiger, financial news network. I'm Steve Rhodes. Welcome to LUS Show right now. The Dow off 465 points trading out at 259-66. That's down one in eight tenths percent. S&P down a similar percentage, which is 49 points. NASDAQ 100 off 2% now, 159. So it's mean and red across the board, meaning green in the spot volatility. It's up 30% today. That's $4.76 trade out of 2020. Gold is basically flat. It's up to buck silver, totally flat. Lights we'd crude off 85 cents. Bonds moving higher, moving higher dollar wise. It's a with the I tron. It's up 21% or 11 bucks. Not sure what's behind that move. Everest real estate group. Mount Everest up 4% or 9 bucks and change solar edge technologies up 10 or 21% beyond meat. Thing is a seems to be a rocket ship up 12%, $9 today. Don't worry that little rocket ship will go back and retest its lows from its IPO. You just gotta be patient. IPOs just don't open up and take off and keep going north. Sellers will eventually get their chance to try to crush the stock. It could take a while, but those lows will be tested. Hey, to the downside, you've got Amazon up 36 bucks. Mercado Libre down 27. Google off 18. Regeneron pharmaceuticals off about 19. Buck Rooney. So let's start with our first question out here. First question coming in. Asking or is that question? Can I address the kind of review of the ES mini, the two hour and the five hour charts and the Chapman wave counter technical technicals indicating a further decline likely. So we'll cover those charts. But to answer that question, what I need to do is probably take a look at a few other things with you as well. So for example, let's go ahead and yes, daily two. Yeah, Peter, we're going to cover it all here. Let's just simply take a look at the ES mini. Let's get to the initial question. Can we anticipate price moving lower? Here's a 30 minute time frame chart. It shows that we're back in essence to yesterday's lows. Quite frankly, we're just slightly below that. We're in the process or it's in the process on a 30 minute basis. It actually completed the TD nine count. It did that as we came on the year at one o'clock. Now the eighth bar on this count was the lowest low. But we know that that lowest low in this pattern, if it's going to identify a shorter term bottom for you, John, that would occur by 130. Meaning that at 130, whatever that low is, that low does not get penetrated because that reversal can take place on bars eight, nine or 10. We're going to, at this stage here, see bar number 10, so to speak, the bar following nine. So keep that in mind because if at 130 to two, you get a move lower out there, that would suggest to me at least short term, no, on a short term basis, no bottoming signal out here. So that would be one thing I would be looking for. You had specifically asked about the two hour time frame. Let's go take a look at the two hour time frame. See if there's any technical indicators out here. And there is at the moment, is there in the last bar? Let me just see what my settings are out here. Give me a moment. What I don't know is if I have my settings on my tool set to basically on the bar close or if it's intercession out here. In this case, it was intercession. So let me turn that on now. What I'm looking for is to see if there's a black line drawn to the newer low out here on the two hour time frame. Now that that's a bottom, but the question was, is there any kind of indication of the tools that I use? And what you will see here is prices moving lower doing a less relative energy. Now that alone is not a bottom signal. You need to see some type of bullish reversal candle that's formed. So we would have to come back. Now the two hour time frame chart, John, that I'm looking at, the current candle session completes at 2 p.m. So it wouldn't be till 4 p.m. where we would get the signature that some type of bottom is in. Only in wave four as I see it, but that's all the way from the highs out here that formed back on April the 30th. It's what it looks like to me. TD set up nine count out there helping to identify the top. So there's possibility in the two hour time frame chart. We'll have to see what that session, it would look like from two to four, looks like out here. Five hour time frame chart. If we pull this over, I don't see anything or I don't see anything just yet. Is it possible that what the ESMini is doing here on a five hour time frame chart is setting up a three drive to a bottom pattern? If it is that third drive in essence would come in at a price level at about 28.72. That would be your A to B equal CD of potentially drive number three. Let me see if this tool is operating. Here's what that three drive is giving me a moment here. Right now it's not picking everything up, but it will after I do one little thing out here. Sorry about that. Sometimes that's the way that it just simply rolls out here. So it's going to take just a moment here, John, for this chart to update, but you're very familiar with the three drive to a bottom pattern. Now for Stevie's sake, and here it shows up, but that's not... I gave you a price point of 28.72, something like that. Somewhere in that range, it looks pretty... Sorry, I would be watching for this too. Now, in the five hour time frame chart in order for a three drive to a bottom or top to form for me, it too needs some type of bullish reversal signal. So I just hand on the five hour time frame for my tools and charting software. This will go ahead and complete at 2 p.m. The next bar is going to go from two until the close, so it doesn't get a full five hours in there, but then it restarts as far as the bars, it restarts when the equity futures contract opens. So when we get back from this break, John, there's the answer to the question for your two hour and five hour charts. We're going to take a look at what Peter wants through the daily time frame chart. We'll look at the TAS profiles, but even something more important to John and everybody else that you have to consider has to do something with the spot volatility index. Figure out what that is during the break. We'll be right back. The TAS Profile Scanner is the most revolutionary piece of trading software that you will ever try. Wouldn't you like to approach the markets with confidence? As you begin your trading day, it's likely that you'll be faced with lots of decisions. In order to make the best decision, the first thing you'll need is a strategy that will help you minimize your risks. Whether we're in a bull or bear market, a good strategy is to have the tools needed to help you scan and analyze the markets before you trade. The TAS Profile Scanner instantly scans and filters over 2,500 global financial markets, such as stocks, ETFs, commodity futures, and forex. 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You can still visit us at the same TFNN.com URL, but when you do, you'll see a new and improved homepage with a much simpler navigation, whether you're watching Tiger TV live in high definition or just accessing your newsletter subscriptions. We even have new pricing in six months and yearly options. Check out the new TFNN.com now and experience all the upgrades. TFNN.com, educating investors. Welcome back, folks. So that was off about almost 500 S&P down 52 points and we're taking a look at the EES Mini. So first, let's go to Peter. He was asking about the daily timeframe chart. Let's throw a couple of things out here and then we'll go to the SpotBix Index and I'll share with you an observation that really needs to be done. So let's take a look at the EES Mini. I'll share with you an observation that really needs to be taken a look at. Now, we take a look at the... We know that the EES Mini made that seventh wave move. We know that it generated that rose momentum indicator top out here and we know that there's an A to B equal CD to the downside pattern and the next move to the downside is also 2872. So we looked at 2872, John. That was using actually a different set of data points for an A to B equal CD. That was in a five-hour timeframe chart than what we generated here. So that's kind of interesting, but probably just simply a coincidence out there. So, and price does not need to stop here. You've got the... Could be the 1.618, could be the two level, could be 2.618. That's really some ultimate support for the EES Mini. Ultimate after we take a look at profiles, which was the beginning of its most recent teeny setup nine count. It creates that horizontal line on my screen. That takes us to the price level of 2795. So until we see some type of bottoming pattern out here, that remains in play, Peter, on the daily timeframe chart. Now, what we also want to do is we want to take a look at and you asked, you know, are there new profiles out here? And let's look at the EES Mini this way. And when I say this way, we're looking at four timeframes. So you've got the daily and the upper left. You've got the weekly and the upper right. You've got the monthly and the lower left and the quarterly. That's right. Quarterly chart in the upper right. So here's what we know. Right now, Peter, 120, we can see the prices below 2894.50. I know it says 53, but that's an impossibility for the EES Mini. So any close below 2894.50 today is going to signal to you and I that we have a change in trend. Yesterday was another test of the bottom of a profile that held. Let me go ahead and just simply move this and mark that in on this. That's this candle right here. We've had, that was at six, the currents. I guess I got to add a couple of more here. But Peter, if we see a close below that 2894 level, the signal is a change in trend. Now just using profiles and trying to identify where price would target. Well, there is a new profile for the weekly timeframe. And that bottom of its box is 2858. So that would be the next key level of support out here, right? One thing at a time. What's the monthly tell us? Monthly says, okay, we're back potentially inside the range. It's only May 7th. So we don't know if that is the case or not out here, but we do know on a quarterly basis that prices stayed inside that quarterly profile. Interesting, isn't it that the bottom of the profile on a quarterly basis was a level of support out here? Yeah. So this would say just simply going like this. Let's assume, well, let's not assume. What you and I know is we're in a consolidation in the general marketplace out there. And we know that just simply by taking a look at the Dow. So I don't want to, you know, pull that up, but that's what we know. And if we're in a consolidation, price can go down to the bottom of the consolidation. Well, in the ESMini, it would be in the 2327 to 2467 area. Is that a possibility? Absolutely. Now, what's the fly in the ointment out here? So this covers the profiles, gives you an idea as to where we're at. Again, 2894.50 is an important level today. Closed below that suggests that prices headed to 2858. You get below 2858, then 2828. That becomes the point of control on the monthly profile out here. And that's how we would go ahead and use profiles to assist us in identifying possible places of where price will head to and perhaps find some support out there. Here's the problem, folks. Here is the absolute problem. And the problem is this, when I put this chart up on my screen and when I put the data that is in the top part of the screen, what is it that sticks out to you? What is it that sticks out to you? Now, here's the focus. I want you to look at the price of the spot volatility index. Right now, it says 2069. Label to change by a penny or so out here. It says 2069. Look at all the other numbers. Now, at the bottom of my screen, we start with the May spot volatility index futures contract. Then go to June, July, August, September, October, November, December. What's the price of December? What's the price of November? What's the price of October? What's the price of September? What's the price of August? How about July? How about even May? May, we're in May. You see, when there is a dislocation, when the spot volatility index is trading above all of its futures contracts, as it was yesterday, as it is today, it tells you, folks, if you are short, please put stops in place. This is telling you about a slingshot move that could be ginormous out here. If this was a real move, and not that it's not real, but if it was really a real move, the futures contracts for the spot volatility index would not be priced below what the current knee-jerk reaction is inside the market out here. Yes, we looked at the top inside the ES mini. Again, a lot of people, most people don't really, that I see, don't really use the spot volatility index for all the great tools that it provides us, such as a one-day rate of change, like 34.46% right now. That's important, such as the 50-day moving average, which is 1447, but here is another one of those elements and tools. And so, John, you say you covered too early and, of course, you made money. Maybe not. Just be aware of this and then watch those other short-term patterns out here. Now, this can persist for a while. It can persist for days. But that's why, say, put stops in place and just simply continue to move them down if you're short, especially if you're trading the futures markets, if you're kind of screwed if you're trading the ETFs out there because you could see a bottom interest during the evening or early morning out there. And then, of course, by the time you get a chance to place a trade, your screw it, I think, was the word that I used out there. But either way, still go ahead and use stops. And how do we know that when the spot volatility index is, we used to have to track all this stuff so manually and, thank gosh, I don't have to do that now. But here's just an example of the spot volatility index compared to its six-month counterpart out here. And all these bottoms or potential bottoms where you get these countertrend rallies, they form when that ratio gets out of whack. And as we speak right now, 1.26 in the afternoon, it is out of whack. And therefore, John and everybody else are right to be looking for some signals out here that says that okay, the move is lower. But you'll have more information most certainly between this 1.30 and 2 o'clock session as we were looking at that ES mini, which could be forming a TD setup, nine count out there. So, Peter, I hope that helps answer your question. And you had two out of the three things in the spot volatility index as far as what to look for. Make sure you add this one too because it's a huge tell in the markets. DAOZA 520 will be right back. I'm certain you are or strive to be one of the best of the best at everything you do in life. It's the most common trait that we tigers and tigers share. If you're looking to become the best of the best when it comes to managing your money, let me teach you to do what most wealth managers tell you can't be done, which is how to time the markets. I'm Steve Rhodes, author of Mastering Probability and for the last 12 months, Timer Digest has been tracking my newsletter signals which have earned me the ranking as their number one market timer in the nation for the S&P 500 for the last 12, 6 and 3 months. Timer Digest also ranks me as the number one market timer for gold as well. The fact is markets can be timed and I'll teach you the exact set of tools that I use that has transformed me into one of the best at what I do. 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The Art of Timing the Trade Chart is designed to help you when scouring the markets for stocks just beginning to form the trading patterns of months searching to find. And right now we're offering licenses available at only $79 a month. We are so confident that you're going to love this new charting software that will even give you a 30-day unconditional money-back guarantee. Don't miss out on this incredible new piece of software. Get your copy of The Art of Timing the Trade Chart today by visiting TFNN.com Welcome back, folks. Let's go to our first email question out here. This one coming in from Mike in Merrimack, New Hampshire. Mike writes in, says, hey, Steve, hey, Mike. Noki is a ticker symbol, by the way, or Noki is a company, N-O-K is a ticker symbol that we're going to take a look at. Go ahead and pop that up on the screen here so you can see the three different timeframes. Mike's question goes like this, some sources recommend going long how are the chart looks bearish to me what are your tools indicate? Please note, if looking at a one-year daily chart, where is a swing low from August 15, 2018 with a close of 519, is this meaningful? Okay, let's see if we can try to figure this out. Now, here's what we know right off of the bat with regard to Noki to get ticker symbol N-O-K and it's a daily, weekly, monthly and, quite frankly, quarterly set of profiles. You're below the daily, you're below the weekly, which was 523 and the next step on the move down as far as a profile level would be the point of control for the quarterly timeframe, which is 467 out here. You are mentioning something like on a one-year base going back to August of 2015 I see December of 2017, which is an area. Now, this is just on a monthly chart out here, Mike, that is going to come into play before you get back to November of 2016 you're asking about August of 2018 where is the 2018 August of 2018, so you're in here which price is already below that level. Let me open up the daily timeframe chart and so, you know, look, here's your August 15 2018, your question was is this meaningful? Yeah, sure, you know, I would say what's more meaningful when you look at this chart for Nokia? Now, Nokia I don't know where they're headquartered so when I see all these gaps out here, I have to assume there's some type of currency conversion that's going on, so ordinarily Mike, I would say, hey, you got to go look at the gap in this breakout that occurred out here, I would say that this date February 1st, 2018 would be more meaningful and when I say more meaningful you know, I would really be looking at the so-called top of the gap or bottom of the gap, that would be the $4.85 level. Again, I just think I don't know this for certain but this chart just simply looks to me like there's some currency conversion stuff going on so let's do this here, Mike, let's just go to the other charts, try to answer your question, your question is you know, can I recommend going long? So let's take a look at the daily timeframe chart, see what pattern is out there. Oh, I see what I did kind of screwed up there, there we go let's take a look at the daily timeframe chart, what do we know about the daily timeframe chart, you'll know by tomorrow, you'll see that yesterday was a TD set up nine count to the downside, nine consecutive closes below the low of the close, four bars earlier, today is the day after number nine if tomorrow does not make a lower low then you've got potential, the potential would say hey, does price find resistance in Stevie's red line at 5.24 right now or not, so there's potential there, it's not potential to step in in front of this train right now, but there's potential there, you've got the daily nine count out here, let's look and see what we've got here from a weekly perspective on Nokia, let's pull this chart over where are we at here, where we're at in the weekly chart as this looks like it'll be week number eight, now when Nokia and OK made its most recent high which was back in February of 2019, 2019 it happened to be on bar number eight, will this be a bar number eight to the downside I don't know, but it could be of course it could always be bar number nine or bar number ten so to speak out there, but you've got the potential here in the weekly so it says keep paying attention to the daily, again if tomorrow there's a lower low then you're going to refer back to wait for the weekly to form its patterns out here because the daily will in essence have I use the term recycled or just simply move lower and ignored that count and it just tells you that you have a lot of momentum, not you but sellers have a lot of momentum to the downside because they didn't even stop to take a break after that nine count pattern which takes a lot of energy and the monthly chart out here as I pull over my other set of tools nothing here to assist us other than it's suggesting that if there's a bottom where price is targeting is back in November of 2016 and that's a low of three 404 in a high of 453 you're at 502 right now so do I recommend stepping in front of this thing to a long position no but you may be getting close and maybe check back in with me on Thursday I guess we could even look at it tomorrow during the show if you just remind me so Mike thanks for writing in I hope that answers your question with regard to what the charts are telling me no other request out there whether it's it oh I closed out the den what the heck happened here I didn't do that I know there we go okay it just disappeared from my screen okay all right good so we're good there all right so with three minutes to go here in this session what should we take a look at nobody's requesting anything that I'm aware of so let's go to what is the logical thing right the logical thing is I'm gonna guess is what's going on with gold especially because you got the GDX up 35 cents in gold is up two bucks so what do we see here in gold here's one of the things that I like when I take a look at gold right now that's going back to the five hour time frame chart out here so in the five hour time frame chart we can see is that when it formed its bottom at two o'clock in the afternoon back on the trading day of May the second you had both a TD set up nine count you also had wave number seven out there so to to to indicating signals to suggest that a bottom could be in just like we looked at for no key out here now what we really like about yesterday and this mornings and this afternoon's action is on the five hour time frame we can see that red line turned green at nine o'clock this morning and when it turned green price was pulling back right into that's when the price us that I'm not showing that difference between two exponential moving averages nineteen and thirty nine is at zero and was at zero that's where you're really looking for the signal what's the message of the markets well in this case here it was a test and rejection and a move to the upside so this is positive what will be more positive for gold on the five hour time frame chart is its ability to take out the high from five p.m. back on May the first and that price levels twelve eighty nine forty if Goldilocks can close above twelve eighty nine forty out here it's going to tell us that a change in trend and that that was a fairly decent bottom not really a good bottom on the five hour time frame chart for Goldilocks well interestingly enough maybe not interesting to you but interesting to Stevie is taking look at the daily time frame chart what's the daily time frame chart tell us a daily time frame chart tells us that price got back yesterday just simply to test its red line it's still red it has a falling price well it has a rising price oscillator which happens to be below zero but the next key level for gold is going to be from the trading session a few days ago that was on the trading day of May day out there May day you'll see a little blue line across my screen well that price level out here is twelve eighty nine forty I don't recall what we're looking at on the five hour time frame chart my memory is not that good but it's somewhere in that general vicinity so closing above that is good and then on the daily the key will be or should be that descending trend line that comes off of the high from February 20th and then the next high of March 25th that becomes your touch points but right now it appears to Stevie son that gold is making that rally attempt nothing really big here it's been very subtle in taking a look at Goldilocks out there very subtle but that's what we do here at the show we show you the subtle things that most traders overlook we'll be right back we'll be right back we'll be right back markets to offer you the very latest in market news. 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To obtain a prospectus or summary prospectus, please contact direction chairs at 866-476-7523. 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. Don't forget, you can listen to TFNN live on your mobile device 24 hours per day. Go to TFNN.com, then hit Watch Tiger TV. That's TFNN.com, then hit Watch Tiger TV for the latest market information. Welcome back, guys. Dow's off 543. Let's go take a look at this. So the GDX, I had mentioned the GDX being up 36 cents. John and Den mentioned the GDX and what we had looked at a couple of days ago was how the GDX had formed a brand new daily profile out there. The bottom of that box is 2027. The top is 2130, 2104. It's a bare structured box. So watch for resistance in that 2104 to 2130 level. But before the GDX can get up there, it needs to close over this 2067. What is it 2067? We don't see it on these charts, do we? No, because these charts here don't have Stevie's red line. Now what we know because the line is red is that the price oscillator is below zero. So what you don't wanna see take place today, necessarily, John, or anybody else, is for price to stop at that resistance point. It's truly priced at, we're 2067. 2066 is Stevie's red line. A close above that would be one more indication of at least price continuing and resuming higher. Now on this chart here, when you take a look at my little blue dashed lines, that price point is out at 2110. 2110 being another key resistance level out there. So watch the 2067. I say 2067, a nice close above that, a close above Stevie's red line, then says you have a rising price oscillator, even though it's below zero. But if it's rising, that is a good thing out there. So that is on the GDX. Jim wrote in and asked if I would just simply give a review of Apple. So let's go do that. AAPL is the ticker symbol out here. And let's go see what Apple is doing. It's down lower, down by about six bucks. But what is it actually doing out here from a technical perspective? So here's one of the things that we know. Got some red lines on my chart out here. And those red lines were showing potential resistance. In other words, it was showing a gap to the downside, kind of like in Nokia, I wanted to go to Nokia and look at the gaps because they have meaning, but not so much when you've got currency issues here. We don't have the currency issues inside of Apple. And on November the second, the Apple had gap to the downside with volume of about 91 million shares. And as it was being tested, it was 64 million shares. And you had a little shooting star candle that formed as well on Mayday out there. So shooting star, the opposite of a hammer, important because it can identify a top just like a hammer can, not always identify a bottom. In the case of Apple, the pullback right now, it formed a brand new profile today, Jim. And that profile is within the old profile. This just suggests that support should be at 200.73. We're at 201.90 and 201.90. 201.47 has been the low of the day. Watch 200.73. The close below that would be the, would be the second close, third close below the bottom of box, really since this thing had formed a, since this thing got above resistance, the top of a profile on January 30th out here. That's what I see on the daily timeframe. On the weekly timeframe, no real great information out here forced from a profile standpoint because you're down at 176. From the monthly standpoint, 187.84 is the top of the box. That's a possible target if 200.73 fails to hold the support. But 197.86 is the top of the quarterly profile. So that would be up first. That would be next up. As to the daily timeframe chart, here's something else that we know. When price was moving higher, doing less relative energy back here, on Mayday, that very next session, you had a bearish reversal signal out here. So all this suggests lower price. So I would say use, I don't know whether you're longer or short, you wanted the review out here, use that level of 200.73 to give you a great indication as to what Apple's true intentions are. At this stage, that support, and until it's broken, it will remain as support. So Jim, thanks for writing in. That is what Apple looks like. And no other questions at the moment. So I got to figure out where do we go that is useful to you? Well, let me just check, see if there's any other questions. There is, okay, good, good checking. So here, Art writes in, what's our outlook on the dollar? So let's go take a look at the US dollar index out here. Let's do it, let's look at the June contract. EX, now this is going to have a 10 or 15 minute delay, I believe on this, 10 minute delay, just simply. So it's going to be slightly different art. I've got the US dollar trade at 97.40 out here. So from a daily perspective, what price is doing right now is it is below, well, let me get it going up here too. Although, let me go ahead and do that. I put the, I didn't like that, okay. So I've got to, and I apologize, kind of a stutter there. I wanted to get the other charts going. And so what I need to do is I need to get the US dollar index, the, oh man, why is this slow? The continuous contract, okay, I got to, I have a way around that. So let me get that up on the screen. It, jeez Louise, that wasn't what I wanted. Sorry about that. Kind of doing a poor job here of multitasking, but that's okay, guys. This is called Stevie Perseverance Roads. And I never, ever, ever, ever give up, never give up. Okay, so here's what we know art in taking a look at these charts. You got price below the daily profile, which is 97.42. If price can close above that level, you see a bounce to 97.92. No topping pattern with regard to the US dollar index from a weekly profile standpoint. And because I'm using the June contract, I don't have enough data for monthly or what have you. I wanna see though, do I have, do I have the US dollar index in a synthetic version out here? I don't believe that I do, so I can't do that. Okay, so now art, what you're gonna force me to do is come over and take a look at the daily timeframe chart with my other tools out here. And so let's just do a wave count. Let's see what took place as price was moving higher, gets the wave number four. Is that a big deal? No, not really. On the weekly, what do I see? What do I see? What do I see? I see a butterfly cell pattern out here. It looks like this. Let's see if it picks this up or whether I gotta make another change here. Nope, it doesn't. So here's the butterfly cell art that took place inside the US dollar index out here. And this is gonna be pretty much approximate, but if you take a look at this, here's your butterfly pattern where in essence, price exceeds our start point, which was at wide-ranging bar on March the 7th. And the reason why we call this a butterfly didn't make a 1.272 extension, 1.19, was because that bearish and key reversal session out here are that form. So there's the pattern, but here's the bearish reversal signal on April 26th. So this says that the US dollar index could head lower out here or should head lower as long as price remains below 97.46. That was Stevie's green line, by the way. That was the daily. What's the weekly timeframe chart here? Show me. A weekly timeframe chart, that's weird. Wait a minute here. What's the deal? Well, I don't know what the deal is there. Whoa, okay. Let me see if I can configure this slightly different when we get back from this break. Steve Rhodes with TFNN. Does off about five, 12. You right back. Since 1984, Basil Chapman has been using the Chapman wave methodology to advise traders of his expert market opinion. While originally hand drawing charts from the late 1970s into the 1980s, Basil noticed that prices under most circumstances virtually always had a certain number of legs to the upside before declining sharply. Later, Basil found that computer software which included the standard market technical indicators enhanced the degree of accuracy in calling price turns as well as market trend calls. Thus was born the Chapman wave sequence. Using the Chapman wave methodology along with other indicators, Basil Chapman advises his subscribers of his expert market opinion each market day with his opening call newsletter. Right now you can get a two week free trial to the opening call, Basil's daily trading newsletter by visiting the front page of TFNN.com. 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They ensure we receive all the nutrition we need to be healthy and thrive. We take it every morning. Primal Edge, formulated and approved by Niko and Paige of Living a Primal Lifestyle. Buy it today for just $89. Click on the Primal Edge banner on the front page of TFNN.com. This is David White. Stay tuned because coming up next is the power trading hour right here on TFNN. Welcome back, folks. So what's art? I couldn't get my other system working. I'll work on that. Hopefully I'll remember to do that this evening. But nonetheless, let's just take a look at the weekly timeframe chart. So we established on a daily timeframe that there was a cell signal. It was a butterfly cell signal inside the US dollar index straight below the daily profile. So additional pullback. Now pullback to where? Let's assume in pullbacks. And here, what we can see is clearly in taking a look at the weekly chart, you can see the trend lines that the US dollar on a weekly basis is dealing with. First, take a look at the high from the week of November 12th, the high of December 10th, the high of March 4th. And you can see that price stopped right in its tracks, right there. So that's a beautiful thing, at least with regard to identifying tops and bottoms. Price would need to close above, I would have to say that level, that level to give you an idea is 97.66, right around there. If price does get above that, closes above that, then you've got another trend line, simple trend line from November 6th, that high. The shooting started on August the 13th, and then it connects all the way back to November 12th. And so that level, as far as where price would move up to about 98.62. You can also see just simply coming off of the lows here in early September, September 17th. I'd use January 7th using January 28th. You can see that the rising trend line remains in place. So the US dollar index may be pulling back out here, but it's gonna continue to move. And all this makes sense, folks. All of this, at least it makes sense to Stevie out here, is that the US dollar index, which has been rising ever since February of 2018. Remember, the stock market likes, loves a strong US dollar. Why? Why? Because capital from Europe and elsewhere is gonna flow right over here. Right over here to the US stock market, the US dollar treasury bonds. We're at, folks, you and I. This is the safety net across the globe. Folks, stay tuned. David whites up next after that. Tom will bring three to five. Thanks for being here. I'll see you on wonderful Wednesday.