 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 morning folks welcome to the August 1st the terrific Tuesday edition of today's Trader's Edge show I'm your host DV 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 and let's make sure we have an extraordinary one now 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 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'm here to serve you So feel free to pick up that phone dial on in an 877-927-6648 now If you can't dial in but you've got a question We've got you covered go ahead and send me an email send that off to Steve at tfn.com Inside the subject heading please put radio show question Of course if you're inside our Tigers then well than 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 the show right now. We got a sea of red all the US indices now pointing to the south the dow's off four points So it's flat the S&P's off 15 three tenths three tenths for the Nasdaq 100 or 43 points a little over 1% for the Russell 23 points there 12 points for the semis 122 for the trannies gold is off 26 bucks silver's down 67 cents likes recruiters down 92 pennies natural gas off 8 cents a 30 year Treasury printed out at 120 302 that is off 1.12 ticks So let's begin with the US dollar index the reason we're going to begin here is because I've got a different data feed I've got it set up for this And so I've got a different data feed to use the US dollar index church out there that I can switch back to the normal Feeds take look at all those other instruments But the importance about take a look at the US dollar index is the following as soon as we get to those charts Give me a moment. We'll put the white background charts up on our screen the upper left hand corner So here are the components that make up the US dollar index You've got the euro the yen great British pound the Canadian loony the Swiss Frank and the sweetest Corona out there So those are the those are the currency pairs the six currency pairs that make up The US dollar index now the weightings are listed there to the top three the euro the yen and the pound are over 80% of the waiting So really it's primarily just a focus on those three charts to get a feel for what the US dollar index is communicating to us Now if we take a look at the very bottom right hand panel You will see an a to b equal CD pattern to the upside just like you'll see an a to b equal CD pattern to the Downside for the euro the two of these currency pairs, you know, basically having the inverse relationship here Dominating each other, but what we also have that's going to unfold today at days in is a TD nine count bottom pattern So in the case of the euro it appears that the low of that pattern is going to be bar number eight that low is 1.0943 if price closing below that let's say tomorrow or the next day This pattern gets negated the a to b equal CD pattern gets, you know Still in place out there and that would then suggest at least a lower move It may be may go beyond the one to one a to b equal CD you would need a bullish reversal Canada confirm that pattern But right now what we know is that the euros is expected or anticipated to bottom today and should make a move up to its Oscillator and change line that's currently printed at 1.10 8 if we take a look at the Japanese yen It is weakening against the US dollar as it moves higher It has a confirmed a to b equal CD the upside prices beyond the one to one level We can also see the price on the left side of that C to D leg This suggests you and I that price wants to make a run for the TD nine count breakdown level. That's at 1.44 73 The yen should continue to weaken that will put strength inside the US dollar index the euro should get stronger That should weaken the US dollar index the Great British pound does not have a bottom pattern What the Great British pound has is an a to b equal CD that should take price towards its breakout level That's at the 1.26 74 level as the pound moves lower the US dollar index will move higher out there So it's more than just saying to you that the US dollar index is going to form a TD nine count or complete a TD nine count Pattern today because it is going to the real key is going to be we know that the US dollar Japanese yen or it appears That the US dollar Japanese yen wants to continue to move higher So that's going to weaken US dollar index getting stronger. That's about a 14% waiting inside there Where we may get the euro that bounces which would then weaken the US dollar But the Great British pound says I want to get weaker that puts strength in US dollar So we really need to continue to keep our eye on these charts here for the next day or so to can't really get a feel for What the US dollar index wants to do but in summary, you've got a TD nine count top You now see the components that are going on inside there and There you go as Gus my big fat Greek wedding would say so now what I'm going to do here Is I'm going to close this down I'm going to actually turn off the data feed I'm going to add the new data feeds in here just simply so we can get to some of the requests that have come in For example, we're going to take a look at Caterpillar for Hector Envx and overstock for Jimmy J and J for John C. All right So I've got those things set up, but before we go take all those individual stocks Let's get a feel for what's going on Intra day here So we'll pull up these charts. I believe it's gold that's going to pop up first That's fine. If that's in fact what happens. Yeah Because I'm sure there's questions about gold So we'll take a look at that Goldilocks when its charts are communicating to us We'll do the same with regard to the ES and the NQ out here So we take a look at gold on a daily basis right now prices trading below a key level of support And that is the bottom of that daily profile now You may recall if you're listening in on the 11 a.m. Update that there's another area of support, which is the center of the weekly profile And that's at the 1980 80 level. We're trading 1980 50 right now So we'll want to watch 1980 80 a price close to blow 1980 80 at The day's end it's going to signal to you and I that we could be looking and moved on to its breakout level That's at 1954 30. That's the daily time frame the Five-hour time frame looks like it's trying to form an a to b equal cd to the downside the same for the four hour The same for the two hour. However, the two hour chart will complete a TD 9 count bottom near its breakout level of support And that's at the 1982 20 level and it will do that At that 12 noon. So we've got about another 45 minutes. So gold would watch the two hour chart for gold The one hour chart is in the process right now negating its TD 9 count bottom the 30 minute chart will Confirm a TD 9 count bottom at 11 30 complete the pattern at 12 So what I'd really be watching then is I'd watch the 30 minute chart You've got a road's meant to mitigate a signal in the 50 minute chart I'd really kind of be watching the intraday charts here But you've got a a valid bottom that's in the process of completing 11 30 on the 30 minute to confirming at 12 noon and we're going to get a confirmed 120 minute TD 9 count bottom as well So whatever that low is as we come into this 12 o'clock session It price closed below that low on a 30 minute base that tells us we're headed lower And we're likely headed lower to 1954 30 Steve Rhodes with TFN. We'll 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 4x report Teddy Keg stat breaks down the 4x markets every Monday using his 30 plus years of experience as a trading veteran of futures 4x stocks and options Teddy releases his weekly Tiger 4x 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 4x markets tremendously When you sign up for the Tiger 4x report, you also gain instant access to Teddy 60 minute webinar archive He just hosted 4x strategies and fundamentals What is behind the Tiger 4x report for all the details and to start your 30-day Tiger 4x report subscription today? Visit the front page of TFN comm TFN and 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 TFN and comm 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 TFN and comm 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 at 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 TFN and all our newsletters come with a 30-day money back guarantee So you have absolutely nothing to worry about Visit TFN and comm and try mastering probability 30 days risk-free today TFN and educating investors toll free at 1-877-927-6648 internationally at 727-873-7618 Folks on Dow's off 25 S&P down 17 as that 151 the Russell's off 23 We'll take a look at the charts here for Caterpillar Caterpillar's not off gap into the upside Big move big a wide-ranging bar It negated its TD9 count top by today And it's got an A to B equal CD It's extended beyond the 1 to 1 price level Let me give you what that next price level is I'm going to calculate that off screen here Tell you where the 1 to 1.272 price target is It is at the 288-89 area So that's likely its next price target The only issue that I see on the Caterpillar charts here Hector and Patty is that you are now going to complete a weekly TD9 count top at the end of this week Will that take hold or not? I don't know if we were to see a bearish reversal candle sometime this week on Caterpillar then odds would favor the answer to that question It's a beautiful looking chart on the monthly time frame No top in place out here Your above profiles, your above the green-acid and change line The charts for Caterpillar are moi bueno Very, very strong out here But it is the weekly time frame chart that you want to keep your eye on No indication yet of a top out there So I do hope that helps you out again Next price projection level is going to be up at the 288-89 level That's in the daily time frame Hector and Patty were asking just simply about the A to B Equal CD patterns that are out here Let's take a look at the week I'm going to change screens It's easier for me to draw these on my other screens out here So from a weekly perspective Okay, here's the larger A to B equal CD The A point starts out down in 2022 September, the week of September 26 The B point, the week of January 23, 2023 And it pulls all the way back Makes a low on April the 24 The week of April 24 The B point has volume on a weekly basis Of 14 million shares Now it's only two days in And we're nearly at 9.9 million So you've got the volume On a weekly basis, Hector and Patty To give you a confirmed A to B equal CD On the weekly time frame That takes it into 309.48 out there Now, on a monthly time frame I think we'd be using the same swing Let me just make sure No, we wouldn't Okay, let's take a look at the monthly A to B equal CD here in Caterpillar So it uses the A point I would use the A point The low from March of 2020 And the B point is going to be the high Of June of 2021 Pulls back into a low That forms back in August or September I should say of 2022 The B point here had volume Of 103 million shares It was passed last month With only 50 million shares Was passed with 70 million shares Back in January of 2023 And this month you're only at 6.2 So of course it just began But there's still an A to B A to B equal CD pattern That's in play out here at 319 So here's the A to B equal CDs For you Hector and Patty The daily 28889 The next price target The weekly 309.48 And the monthly 319.79 But the caveat is A weekly TD9 count top will Complete on Friday out there And that should take price Back to its weekly oscillator And change line And that right now Is printed out at 252 So Hector and Patty Thanks much for writing in And have a terrific Tuesday Jimmy wants to take a look At ticker symbol ENVX So we're going to go ahead And change panels here I believe Just want to make sure That I do this properly So let's go change the panels Out here And this is Enovix Corp We'll use that Whoops, that's not it Shoot Another second to do that Stevie almost screwed up That would have been The third one of the day Already We don't want that to happen So let's get back Those white background screens To ENVX So we take a look at these charts What are they communicating to us Well, you've got What do you got What do you got here You've got a wave Now you don't even have that So let me pull this back a tad Is there an A to B Equal C to that completed Yeah, there is So this has a completed A to B equals CD pattern It would look like this I'll draw on the A to B It's more than a one to one If I just simply move this Over to the C point out there You'll see we're way beyond that So yeah, there was a Sell the D point pattern that formed That now has led to Let's all pull this back In the daily timeframe Let's see what kind of profiles We're dealing with here The bottom's a 1973 Okay Center's a 2087 Which is basically We're printing right now And the top is a 22 bucks So you've got just a consolidation With inside its daily profile That's going on right now, Jimmy On a weekly timeframe You have a TD9 count top That has unfolded It completed last week Price should pull back To test its oscillator and change line And is that the top of the profile To 1720 and the top of its profile So ENVX should Doesn't mean that it will But it should pull back To that 1721 level The monthly chart shows That price ran into resistance At the top of its profile 2249 So you've got a consolidation On the monthly You're really consolidating On the daily timeframe The weekly has a topping pattern out here You've got to keep your eye On the daily charts If the daily charts Start pulling back And you get closes below 1973 That would be the signal That we might be getting ready To pull back on ENVX to 1721 What does it need to do To say that we're going top side It needs to close above Last week's high Last week's high Which was that TD9 count top Is out at 2390 So that's what I see When I take a look at the charts here For ENOVX Corp. I hope that that helps you out Let's look at your next request Which would take a look at Overstock OSTK is the ticker symbol here And its charts are communicating what? Its charts are communicating That today you could get a confirmed Roads momentum indicator top It all is dependent upon Whether or not we get A bearish reversal candle Now even if we do And right now we have A bearish ash candle Even if we do We can also see That the price is trading Above its green oscillator And change line So that neutralizes the signal There's also a new profile That is forming It is not on this White background chart This area of support out here Jimmy, I'd write this down This is going to be a solid Profiler should be Is at 3293 That's your next support level At 3727 is a resistance zone On the weekly timeframe chart Let's update this here You are going to appear As you will complete A TD9 count You will confirm A TD9 count top This week you will Complete that pattern next week So you've got the daily top Watch that oscillator And change line 3493 If you get below that Odds would then favor At least they pull back To 3293 If price closed below 3293 That would then signal Move back to the weekly Oscillator and change line On a monthly timeframe chart When we take a look at Overstock, what do we have Everything here looks bullish What I mean by that Is price closed Above the top of its Monthly profile Two months ago It remained above it last month It is also above its Oscillator and change line So it's bullish So you've got bullishness On the monthly You've got neutralish On the daily You've got neutralish On the weekly But both the daily And the weekly do have Topping signals So you really have to Watch support again That first level On overstock Is going to be That daily Oscillator and change line At 3493 So Jimmy, I hope That helps you out We'll get back to this Breakout here We're going to pull up A chart right now We're going to take a look At Johnson and Johnson JNC out here That is for John C So we've got these charts As you take a look At these charts What are they Communicating to you? What do you see out here? Anybody see an A to B Equal CD pattern? Did it complete? Did it confirm? Did it generate a cell The D point pattern Yesterday? Steve Rhodes with TFN We'll be right back And answer all those Questions Attention traders Larry Pesevento The renowned Trading mastermind Is holding an exclusive Live trading event On Wednesday, August 2nd From 9 a.m. to 2 p.m. Eastern time Transform your trading skills With the real-time wisdom Of a Wall Street veteran Just 295 dollars Gets you a front-row seat To this power-packed session Plus a month free Of Larry's sought-after Newsletter Fibonacci 24-7 A $97 value Elevate your strategies Decode the markets And achieve your financial goals Remember, this event Will be archived for all attendees And Larry only Does a few of these a year Don't miss this opportunity Sign up today at TFNN.com Secure your future And start trading smarter TFNN Educating investors Old 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 So you have nothing to risk Subscribe To Tom O'Brien's Gold Report newsletter now At TFNN.com And it's not just dry, tedious text, either. TFNN airs live financial content Streamed live on TFNN.com And TFNN's YouTube channel With Tiger TV Live every market day From 8.30 a.m. to 4.00 p.m. Eastern For free! Each host is an experienced trader And gives their take on the market While taking calls and questions Live from around the world From the moment the market opens Until the closing bell sounds And the moment the market opens From the moment the market opens Until the closing bell sounds Tiger TV has 8 different shows With expert hosts To help you make the right moves With your money Watch online at TFNN.com Or on TFNN's YouTube channel And become the investor you were born to be TFNN Educating investors Welcome back folks, we're going to go take a look at Johnson & Johnson J&J is the ticker symbol This is for John C inside the Tiger's Dam And you can see the A to B equals CD pattern I was confirmed to sell the D-point pattern Was first confirmed with this bear shooting star On July 24th That pattern failed a couple of days ago When price closed above that Then yesterday we had a gap to the downside That created a gap which is a bear signal Gap down or a falling window little gap down or a falling window. It also created a three river evening star pattern out here. Now what price is done is pulled all the way back to its level of support in the case of Johnson and Johnson. It's a new daily profile with the sport down at the $166.92. So John C., that's the level to be watching. So far that area is held, but if price closed below $166.92, it's signaled to that price should continue to head lower. Now the great question be lower to wear Stevo. The lower to wear Stevo, and you can see on a weekly basis that what you are generating right now is a sell the D point pattern. What we don't know is will we have a bear separating candle at week's end? If we do, then the answer to your question with regard to what happens if price closed below the bottom of its new daily profile $166.92, that was a mouthful. Price should then target $163.00 and change. That is the weekly oscillator and change line. On a monthly basis inside of GNJ, you've just got a consolidation with inside its monthly profile with its oscillator and change line currently $169.60 acting as a resistance level with the top of the profile. Last month also acted as resistance. That's up at $174.23. So overall, you've got a top price is pulled back and it's held support. That's a little bit bullish out here, but you do have a potential sell the D point for me this week in Johnson & Johnson. So I'd say just keep watching $166.92 now. In order for Johnson & Johnson on daily basis to be on its merry way to the upside, you need to see a close above that green oscillator and change line that is currently printed $169.17. Don't use the pennies because that number is going to change, but let's just call maybe $169.40, something like that. If price close above that, then the gap should get filled, the price should then go retarget its profile levels. But understand this is a bearish structured daily profile and the sell zone right now inside of Johnson & Johnson is between $172.55 and $175.36. So I hope that helps you out, John C. Thanks much for taking the time to write in. Much appreciated. Rachel writes in and she wants to take a look at T-Rex out here. So let's get to the charts here for T-R-E-X and let's actually read the question. T-R-E-X is the Trex company. The question is, hey Steve, good morning. I'm looking for an entry on T-R-E-X. It had a great looking base and appears to be breaking out a gap up today. And as pulling back a bit, it looks like Marcus may be taking a pause next couple of weeks. I'd love your take on this stock for a potential long entry. Rachel, let's get over and take a look at those charts. I didn't move over there. I thought that I had, but now we will. No, that wasn't it. Did I have them up? I must have had it up. I did have it up. Sorry about that. All right. So T-R-E-X, what is it doing? We take a look at patterns out here. The pattern that I see that's in play. So this negated a Wave 7 pattern. This formed Wave number 7. It does it on the day of July 18th. Leads to a pullback which gets below the bottom of its daily probe. But forget about that now. It's trading on the top of the profile at 7146. So you've got an A to B equal CD. What's that pattern look like? So we'll draw the A to B pattern. We'll copy, assemble, and paste. So here's A to B. Let's go ahead and copy and paste that. So here's our copy. Here's our paste. And now let's do the assembly part. This is the C-P-A trick. So now we've got the A to B equal CD. That says that likely going ahead higher. Your one-to-one price projection is about $77.51 or thereabouts. Of course, you're looking for an entry point. Where's an entry point? The entry point says, right now, you need to be careful here. The reason that you need to be careful is on a weekly basis. We're going to get a completed TD-9 count on top out here. What has also transpired today is that move higher has triggered a rose momentum indicator signal, Rachel. But that doesn't mean it's topped. In order for that to give you a topping signal or topping pattern, you need the required bearish reversal candle. So price should continue to move higher. You're looking for an entry point. So you're not going to chase it here. You're especially not going to chase it knowing that we have a weekly TD-9 count top that's going to complete. Now, maybe that pattern gets negated and that gets negated and this thing decides to continue to run north. A real big possibility or a real possibility. I don't know if it's a big possibility. It's a possibility. But you're looking for an entry point and you want to see this pullback. Well, the markets pullback for the next couple of weeks, that I don't know. And then I'm not sold on that idea. The markets might begin to pull back a couple of weeks from now. But over the next couple of weeks, and not so sure on that one. But with regard to T-Rex, and let's just stay on the T-Rex charts out here, because of that weekly TD-9 count top, I would be patient and wait. Where would be the entry point? Really, where would be the entry point 63-67? Or thereabouts? That's the weekly Oster and Chains line. That's to be the first target that's still above its weekly profiles. That would be a likely move. But what you'd be looking for, some type of bottoming pattern on an intraday chart, or maybe even on a daily timeframe, if that were to come to fruition. So I think what you do here is you've had this on your radar. You keep it on your radar. You wait to see how the weekly chart responds. Whatever this week's highest, note that on your pad of paper. If price closes above that, that tells you where likely, or this is likely headed to its TD-9 count breakdown area. That's up at the 92-93 area. So hope that helped you out, Rachel, with regard to T-Rex. Thanks so much for the request out there. And let's get to the request from our man, Dan Levitan, who wants to take a look at MCRB. MCRB. That is trading right now at about 479. I just want to make sure 479 is the current this is series therapeutics, which is trading right into resistance where the sellers are located the top of that daily profile. That's at 481. We're trading at 479. So, Dan, this formed a wave seven bottom. I've got that. If price can take our resistance, meaning two consecutive close above 481, you should be off to the races. Sort of. Sort of, Stevo. What do you mean sort of? Well, the reason I say sort of is as we look at the weekly timeframe chart, we can see that price has been below the bottom of its bull destruction weekly profile for more than two consecutive bars. If it's only a counter trend move, we don't know whether it is or not at this stage here. If it is only a counter trend move that's unfolded, even if price close above 481, you must watch 498 because 498 is the level that price should not close above if MCRB is only making a counter trend move. I do not have a bottoming pattern on the weekly basis inside of MCRB. What I do have is price taken out a swing point. This is the swing point from December 30th that did volume there of 3.7 million shares. And as price got below that about four weeks ago, it was with 8.5 million shares. 8.5 took out 3.7. Now granted, that was the week of December 30th, you know, and you can say it's maybe a little bit light volume out here, but there is an A to B equal CD to the downside has been confirmed by volume and it looks like this. And I think that that would say it goes out of business. So to speak out here, where does it take that in price? No, it would take you to about the $2.22 mark out there. But you did get a hammer candle that formed last week. So only a close below that low is that going to signal that A to B equal CD to the downside is in full effect out there. So you've got to watch the price of 429. Two levels to watch with clarity. We're going to say skip the daily chart. We don't really care about it right now. What we most care about is that center profile level on the weekly time frame at 498. That's the first area that we care about. The second area that we care about is the hammer candle low from last week at 429. That is MCRB for Dan inside the Tiger stand. 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. 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 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. Are China A shares hot or not? If you trade China A shares now may be time to take a closer look. Trade C-H-A-U or C-H-A-D directions daily CSI 300 China A share bull and bear ETFs. China A shares in either direction. Visit directioninvestments.com today. 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And 11 ticks out here. Remember we've got consolidations right now going on inside of the U.S. equity future contract. So let me put those up on our screen. We'll come back to GSM momentarily here. I'll put these up on our screens out here. So on a daily basis right now in the ESMini. Got A to B equal CD pattern. Yesterday negated. It's a rose went to Mindicator top. Or it's by the sell the D point pattern. If we get another bearish reversal candle today, which will be easy to do as this current bar wraps around yesterday's bar, then you would get a sell the D point pattern. But prices got it closed below the bottom of that daily profile. That's at 4507 in order for this topping signal to even mean anything. In the case of the NQ, it formed a rose went to Mindicator top did it a couple of weeks ago. It's just been traded in a sideways consolidation with inside his profile. In the case of the Dow equity future contract, it has a sell the D point pattern. It is consolidated with inside its daily profile between the range of 35267 to 35727. That sell the D point pattern gets negated with a close above 35843 and the Russell 2000 negated itself signal yesterday. You know if it generated a bearish reversal candle in today's bar would be considered a key reversal. Is it close enough to the 2030 level? In other words, today's high so far has been 2017 is 2030 and 2017. Is that enough separation to say you know what that's close enough for a sell the D point pattern? I don't know the answer to that question. But what we do know is not until support breaks do any of these tops make any difference whatsoever out there and the seasonal patterns actually suggest at least once over the last decade suggest that we move higher into the middle of August. So, Rachel, that's where that comment was coming from that I don't know that we've really made a top just yet. Now, let's go take a look at those charts there for GSM. We'll go back to that white background chart. What we're going to notice about this stock is last week price was testing a prior swing point which also happened to be a TD nine count top and it was testing it with volume. So, the volume last week on GSM was 1.9 million shares going against only 1.2 million shares. It tested and rejected that high. When you test to reject a swing point high with volume, what does that tell us? That tells us that the high will get tested again. Turns out that high has already been tested this week. Now, the key is what's going to be the volume. Well, the volume so far through today at 1145 in the morning is 313,000 shares. Remember, we're going up against 1.2 million shares out there. So, if price closes below that high, that high is 544, does it with less than 1.2 million shares, you'll get the perfect Tom O'Brien test and rejection of a swing point on lighter volume that then coined that next phrase. If you can't bust them to the upside, price will try to bust them to the downside. Well, where's the downside, Stevie? The downside here, if we're going to try to bust anything to the downside, would be support. Where is support? Support is about 517. That's the green usher and change line. And below that is 502. That is the top of the daily profile out there. Now, are we saying that that's what GSM is getting ready to do? We need to know what the test is come Friday. Kind of hard to make that call on a Tuesday. But if I do look on an intraday chart as an example, we go to a 30-minute time frame chart. Here, I'd be looking for some type of top, like we saw a nice TD9 count bottom back here at about 1530. That was back on July the 27th, when a TD9 count top, that was negated pretty quickly. That was at 1130 yesterday. But price is below support. Do I have any kind of a topping pattern? I can see an A to B equal CD. I can see a sell the D point price and below profile level. So this is given as some indication here, Dan, of price wanting to move lower. I continue to watch that intraday chart. It's very possible GSM could be targeting 501. That is the breakout level. And as long as price remains below 535, where are you at right now? You're at 534. So 535, let me make sure that's the profile. 537, my apology. 537. As long as price remains above 537, you've got to be careful about that door to the downside out there. Again, testing A swing point. Now doing that on lighter volume, it would appear. And that would suggest that this is getting ready to pull back. Now, on a weekly basis, price right now is tinkering with resistance. Since that is up at 530. But it's early in the week out here. The monthly looks good and that price closed last month back above its oscillator and change line, back inside its profile level. So it's really up to the daily timeframe chart and maybe that 30-minute chart to watch. And we'll know a little bit more, not necessarily at 1147 in the morning on Tuesday, but more like 1147 in the morning on Friday with regard to Ferro Globe PLC, that ticker symbol GSM. So, Dano, I hope that that helps you out. Let's go take a look at the next requests coming from ELO inside the Tigers Den. ELO wants to take a look at Moderna, MRNA. Hopefully they're going out of business. If we take a look at Moderna out here, formed on a weekly basis, that was its high. That was a beautiful TD9 count top on that weekly timeframe. And now, price has pulled all the way back and is trading below its breakout level of 118.31. What's that suggest? Well, it's a weekly chart, so on Tuesday it's kind of hard to make that call. But if we do see a close below 118.31, likely headed lower. Where's a real key level out here? Really, it's the 118.31 area. Now, there's a swing point on a weekly basis that resides with a price one. That's from September 30th. Resides down at 115.03. We're trading below that. You realize that could set up an A to B equal CD to the downside. Now, it's such a gigantic one that would actually put it out of business out here, Moderna. So, I'm not going to go ahead and draw that in, but on a weekly basis, what this is signaling to you and I is this wants to head lower. On a daily timeframe, prices negated a roadsman to indicator bottom. That roadsman to indicator bottom formed back here on July the 10th that led to a rally right up into resistance, which was the center of that bullish structure daily profile. We were looking at instrument. I apologize. I don't remember who was for, but I was kind of harping on the idea that if price didn't close above the center of that bullish structure, that's where a countertrend rally ends. Here's the perfect example of that. We take a look at the stock charts here for Moderna out here. So, no bottom pattern on the daily timeframe. Your bullish reversal candle would generate a roadsman to indicator bottom. And on the monthly timeframe out here, there is a TD9 count bottom. And that pattern would get negated on a monthly basis with a close below 115, hold your fingers straight. 1561. Where'd we close last month? 1, not 117, 66. So, you've got to watch the 115, 61 level. If we close below that, that then says that what price wants to do from Moderna on its monthly timeframe is pulled back to 1353. So, ELO. I hope that helps you out with regard to Moderna. As far as the consecutive days lower out here, let's see where Moderna is at. This is going to become really only bar number two of consecutive days to the downside. So, I'm not seeing anything there as well. Moderna looks like it's headed lower. Hope that helps you out. And we'll be back from this break in just a few moments. Again, we've got all of the US indices trading in the downside. That was only off about seven points right now. SAP 16, NASDAQ 143. And the Russell down by 19 points. Trading out at a 1983, 81. 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 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. 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Sign up today and become a part of this educational community of traders. Just visit the front page of TFNN.com. I got two more requests before we end the show. The first one is on meta and the question is, this is from GM, I believe it says, is there a three-gap play inside of meta? So I'm going to guess that you're looking at your first gap being right here. That's one between February 1st through February 2nd. Your second gap being between April 26th and April 27th and then you have the gap from a few days ago. And the question is, is that a three-gap play? Kind of in honor of David White. And the answer to that question is no. My recollection, when you go back and confirm this and check on this for me, gap number three needs to be larger in size and dollar amount than those first two gaps in order for that to be a three-gap play, in order for that to be an exhaustion move out there. So no, I don't see meta as a three-gap play out here. What I do see meta doing is trading above the top of its daily profile. Having no bearish reversal candle, and that says that price moves higher. The reason why I mentioned the bearish reversal candle, if meta did generate that, that would confirm a roadsman to indicator top out there. Now, it still might give you an overall neutral signal, depending on if price remains above the top of its profile and its green oscillator and change line. But do I see a top inside of meta? I see a wave number seven top, but that's it. But that's really neutral. It's because price is above its green oscillator and change line. But I do not see a three-gap play. And on a weekly basis, meta negated its TD9 count top last week. That says what meta wants to do is go target $236.37. And on a monthly chart, only in bar number seven, more likely than not, what Facebook or meta wants to do is go target the $353.83. But go ahead and check me out on that GM. I believe on the three-gap plays, that third gap has to be bigger in either percentage or dollars. I don't think it has to be both, but it has to be one or the other. The last request coming in from me, but let's take a look at ERF. ERF Meme formed a TD9 count top yesterday. It's pulling back and it should pull back to at least $1621. If $1621 fails, expect they pull back to $1597. And if $1597 fails, that could tell us to move all the way down to $1492 to $1499. That's both its breakout level and the bottom of that daily profile. Folks, day two for all the great program we've got lined up for you. I'll see you on wonderful Wednesday. Please have a terrific Tuesday. Take care.