August 14th The Trader's Edge with Steve Rhodes on TFNN - 2026

The following is a presentation of T F N N. The Traders Edge with Steve Rhodes. >> [music] >> Call now toll free at 1-877-927-6648 or internationally at 727-873-7618. The Traders [music] Edge. Now, Steve Rhodes. >> Good morning, folks. Welcome to the August 14th, the fantastic Friday 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, it's happening for us, not to us. That's right. When you and I make that one little 2 by 4 shift, it means we can find the gift in every set of circumstance that life is going to toss at us. Now, today you and I we're going to check on the circumstance of these markets. We'll go figure out with those bulls and bears, what those buyers and sellers are communicating to you and I at just past 11:00 in the morning. I do want you to know that 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 send me an email. Send it off to steve@tfn.com. Inside that subject heading, please put radio show question. Now, if you're a side our tigers then, well, then any and every ping will do. So, let's go ahead and get this show started on fabulous Friday. Of course, this is Tiger Financial News Network. I'm Steve Rhodes. Welcome to the show. So, we're beginning our day here with a mixed bag. Yet, the Dow off 75, S&P's down 9 and 60 for the Nasdaq 100. Russell, on the other hand, up 12. Transports up 53. Semiconductors up 81. New York Stock Exchange up 19. To the downside, 86 points for the Nasdaq Composite. Gold's up 25. Silver's up 46 cents a cents. Light sweet crude up 51 pennies. Natural gas up 4 cents. We'll go to the most important chart of the morning, at least right now. At least it was as of about 15 20 minutes ago. Let's go see if it is right now still. And that is the New York Stock Exchange Advance-Decline Line. It is at a new all-time high. I do not know if it's going to close at a new all-time high. Now, everyone's Advance-Decline Line numbers are going to be different. It depends on when you start. And in my case here, uh the all-time high was back on July 18th, if I'm not mistaken. Uh was on July August 4th. Take that back. Prior to that, was on July 18th. And um and if we do get a new all-time high today, and as I posted inside the Tiger's Den, my comment was very specific. Don't even think about shorting. Now, that does not apply to short-term intraday traders out there. And the reason I put that, and you can go check it out yourself, if you want. Never in the entire uh life of US equity markets has a bear market begun with a New York Stock Exchange Advance-Decline Line at a new all-time high. That is not how tops are formed. Would you like to know how tops are formed? Tops are formed with the New York Stock Exchange moving higher in price. That's your upper right-hand panel. But, the Advance-Decline Line moving lower, not confirming it. When you're a confu- I mentioned yesterday, gobs of market breadth. You're looking at this on the chart right now. It's gobs of market breadth around the world out there. Um if we take a look at um Let's see here. The S We should probably already knew it all-time highs. We should be at new all-time highs this week. Yeah, we are new all time highs this week for the S&P 500 and all the major currencies out there. Let's see. Just checking in. Uh yes, that is a that's true. It is a strong, strong, strong bull market out there. Okay, let's move off of that and go take what's going on in the daily equity future contracts. Let's see what we've got going on here right now. Uh you've got the ES mini that yesterday negated its sell the deep point top. So, it's got no topping pattern in place unless it generates a bullish reversal candle. Uh price did close just slightly above the top of its profile yesterday. We're back inside that. If we close above 7820 and a quarter, you are in full breakout mode. You're really still in full breakout mode. It's just that you would have resistance at that level. In the case of the NQ, closing above 3008250, that's its TD 9 count breakdown resistance level. It attacked that a couple of different times, wasn't able to get through it until yesterday. Maybe it's just going to pull back and test old resistance and confirm that it's actually old resistance and now new support. Time will tell. But in any event, what it does not have a topping pattern and it should continue to move higher. The Dow does have a topping pattern. It has a roadster communicator top and it's lost its momentum. It's lost momentum. We know that because it's been trading below its green oscillator and change line. Now, its movement is primarily been sideways, a little bit lower, but sideways to low for the most part. Uh no major damage, but we don't have a new profile or anything. So, its support level is down at 53113 short of looking at a weekly time frame chart. The Russell 2000. Russell 2000 is at a new Oh, well, made a new intraday all time high yesterday. Uh likely to make a new uh closing intraday high. Uh it will negate its TD 9 count top. The Russell 2000 it is with a close above Let me give you this number here. The the cash index negated it yesterday. The IWM negated it yesterday. The the future contract simply needs a close above 306240 and we're 3070 right now to negate that thing. How many of you think that bear markets start with the Russell 2000 at all-time highs. Now, I haven't really done the research on that to know, but I feel pretty confident that the answer to that question is doesn't happen. Does not happen. Does not happen. Okay, let's go take Let's see what's going on intraday. See if there's any kind of short-term top bottom signal. See what we've got out here. Uh that wasn't the chart that we wanted. Sorry about that. We want this set of charts here. No pop-up. So, we got our 5-hour chart in the upper left-hand corner, 10-minute chart in the lower right-hand corner, and what should populate here momentarily will be the charts for the NQ. Now, we know we've been moving higher, so we're looking for topping signals, and voila, you've got them across the board here. So, if you take a look at the daily uh 5-hour time frame chart, it looks like you're going to have a Rodman Dominator top. Now, this candle, I don't believe it closed till 2:00. Not till 2:00 p.m. So, it's an early call, but right now that's what we've got going. Uh you do have a profile. Be watching this level here, and that is going to be 30,075. If we close below that, suggesting lower price. The 4-hour time frame chart, this candle I believe closes at noon. No, 2:00 as well. It's showing a Rodman Dominator top. Price is above the top of its profile. That's at 30,026. The 2-hour time frame chart already has a confirmed Rodman Dominator top. The level that you're watching intraday on the NQ is the bottom of its profile, and that's at 30,088. If we close below that, we're looking at lower price. The 60-minute time frame chart, let me see here. Did this uh form? No. It's a Rodman Dominator top. Our price is already closed below the 30-minute uh 60-minute profile level. That says lower price. 30-minute Rodman Dominator top, price trading below its um a TD 9 count breakout level, and that's at uh 31,40. That is suggesting lower price. The 10-minute time frame chart, let's see what the count is here. Trying to get this thing here to populate. We are we've got a negated TD 9 count bottom pattern. So, the NQ is headed lower. The question becomes, does support hold the next support levels? In the NQ, let me give them to you again because it's now very easy. And that's going to be at uh 30,088. That's the first one. I don't know which one's in order here, but 30,088. Then you've got um 30,026 and then you have you have 30,075. Those are the levels to be watching. If price closes below that, the NQ will head lower. Let's go take a look at the ES Mini. It is charts populate. Does the ES Mini charts across the uh top, do they emulate what we're seeing inside the NQ or is this just specific to the NQ? Well, the 5-hour chart may form a Rodman indicator top. The 4-hour chart may also. The 2-hour chart already has that pattern. So, we're seeing that prices trading below the 30-minute and 60-minute profile levels. The key area of support for the ES Mini is going to be between 7793 and 7801. We'll be right back. >> [music] >> If you're looking for a 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. >> [music] >> Many trading newsletters attempt to focus on a narrow set of equities or commodities. While this works for [music] some, it oftentimes misses many opportunities that possess huge gain potential. But, how is an independent trader supposed to scan the entire [music] market looking for these hidden opportunities? One simple answer, the opening call newsletter. Basil Chapman, developer of the Chapman Wave Trading Methodology, has been trading the markets for longer [music] than most trading influencers have been alive. And over that time, he has honed his methodology in order [music] to accurately call movements in a wide range of equities, from semiconductors to uranium to key [music] indices and so much more. Basil is old school, taking the time to educate the trader while also giving his insights [music] into key indices, selective stocks, and more. Opening Call subscribers also receive access to dozens of educational livestreams that [music] can be accessed at any time for your edification. All first-time subscribers receive a 30-day money-back guarantee. So, ignore the pop trading influ encers and start learning time-tested technical analysis. >> Steve Rhodes started his trading career as a student almost 20 years ago, [music] 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, [music] finishing at number two for the year. An amazing accomplishment. >> [music] >> 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 [music] 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 [music] absolutely free. At TFNN, all our newsletters come with a 30-day money-back guarantee, so you have [music] absolutely nothing to worry about. Visit tfnn.com and try mastering probability 30 days risk-free [music] today. TFNN, educating investors. >> TFNN has launched the Tiger's Den. Hosted at Discord, TFNN has been educating traders for [music] more than 20 years with live programming hosted by a variety of professional traders during market hours. The Tiger's Den, available to all tigers and tigresses for just $1 for the year. There's no catch or added costs when you join our [music] community of traders. Sign up today and become a part of this educational community of traders. Just visit the front page of tfnn.com. >> [music] >> Welcome back, folks. Now, those of you that had to put up with yesterday's miserable show because of Stevie's computer system, uh thanks for doing that and putting up with that. Uh you're not going to believe this. So, for sure, I thought, for sure, that it was some kind of computer virus. Now, on this computer that I'm coming to you from, uh there's no email on it. The the I I'm very careful with regard to websites that I access with this. This is my trading computer. I try to keep this thing as clean as can be. It's got virus software everywhere. It's got malware software everywhere. So, the mere fact that it was having this virus problem was just like, "You're kidding me." After all that. So, I spent a couple hours after we got off the show, you know, and I had to go because as you saw, the keyboard, mouse, nothing was really working properly out there. I And and I couldn't get anything to work. Literally couldn't get anything to work. And Dan in the Tiger's Den, he goes by ABCD out there, he had made a comment about cuz he said we we had my mouse was just positioned and it was just going crazy. It was just I wasn't touching anything. And And if you saw some of my other screens, you would have been saying, "What the heck is you got you know?" In any event, Dan said that his mouse sometimes does that same thing. And but he his question was, "Do you have a Dell mouse?" Which I do not as I mentioned to him I had a Logitech. But, just for the heck of it, I have an old Dell keypad. Check this out, Al. See if you can show this. This is for Dan inside the tiger's den. Dan, I had to go digging through my stuff just to try to find an extra keyboard. This keyboard's got to be 30 years old. I I think this is maybe one of the original Dell keyboards. I go ahead, pull that out, plug it in, take out the other keyboard, and the system works like a charm. It was a keyboard virus or something, not an actual virus. Uh ex- extraordinary, unbelievable. It was a problem all week long. It was a I was getting ready to do the show with uh Tommy the segment on on Monday afternoon. And I usually spend a good hour or so preparing uh for that so that I've got something nice and concise to be able to bring to you guys. And I go to log in to to start it I've got no sound whatsoever. So, in any event, hopefully that does it. Um uh you know, so uh I if you have a computer problem, this is the first time I've ever seen this, okay? It maybe it's not really just a virus. It could be it could be a uh it could be a hardware issue. In any event, um one of the issue one of the one of the issue one of the things I wasn't able to get to is a couple of requests that have come in. The first one is Google. Uh this was from Vic. So, we've got Google right now that's trading trading where where is the top of its profile? The top of the profile's at uh 341.63. So, you're trading above the top of the profile below the red oscillator and change line. So, I'm uncertain as to what its intent is. Uh maybe it's going to go down to test support at 341.63. If it closes below 341.63, Vic, I would say Google's headed to 330.15. Um the weekly time frame chart. The weekly time frame chart has a TD 9 count bottom pattern. And what that did was that led to a rally that rallied all the way up into the top of a new profile form last week, 381.81. Didn't bust it out, closed back below its green oscillator and change line, so it has lost its momentum. We know that the daily's lost its momentum. It's below red oscillator and change line. So, I'm thinking the 341.63 is a very likely outcome. Below that, we're looking at 334.97, and that is the weekly profile level of support. Now, that TD 9 count swing point, the weekly swing point has volume of 122 million shares. We're pulling back this week with 66 million shares. So, a very light volume pullback, and that says that support ought to hold. Now, the monthly chart is sitting at support right now. Maybe it's just below it. Let's go find out. The support level's 343.71. We're 343.76. Um so I have to say that Google at this stage is is suggesting to me that it wants some lower price, but it's not looking like it wants something massively lower. So, I just watch those support levels, and let's start there. Uh Duncan Steve wants to look at SpaceX, SPCE X. Get out here. Um which as you know, uh subscribers are long, I'm long, my kids are long, my grandkids are long. We're hoping that this is a significant bottom out here. There were two roads with TD indicator bottoms that formed. One was on July 28th. The next one was on August the 3rd out there. We've had a nice rally right up into resistance, so price stopped right where it should. Yesterday, we saw price get up to the high of 149.60. The bottom of the profile's 150.07. So, uh we're just having a couple of day pullback out here. Uh we're going to close above It looks like we'll close above last week's high, so that's a bullish outcome there, Dunk. Um this is going to be day number two to the downside. You know, if you're looking to get into this, uh you know, a two to four-day uh retracement would certainly be something to uh consider out there. So, hopefully that helped you out. Thanks so much for waiting an extra day. Uh next question is from GTE. Actually, the next two questions are from GTE. So, the first one is about the seasonals, the September seasonal. So, let me pull that chart over while the FXI chart gets populated. So, his question is, is September So, what Here's GT's mindset. This is my guess, GT, just from your just from the emails that you sent me, that your mindset is that we are going to experience a major bear market. If that is not the case, please tell me that in your emails, because that is the way that they are coming across to me. They're which is fine. I just want to make sure we're on the same page here, although we're on different pages. Okay, yes, September. If you take a look at the 98-year seasonal cycle of the S&P 500, September is the worst-performing month, period. It's been the worst-performing month for 98 years. I'm not sure about the last 15 or 25 Let's look at the last quarter century. Last quarter century, yes. How about the last 15 years? Has been the same for the last 15 years? Yes. How about the last 10 years? Has been the same for the last 10 years? Yes. So, what we know is that September is a poor-performing month. Does that mean that September is going to be a lower close? No. That's not what that means. It means that September is a poor-performing month. Crashes certainly take place in September and October. There's no doubt that GT is right about that. But we took a look and I think GT wrote that question before I went to the New York Stock Exchange advance-decline line. And we are at a new all-time high. Now, I don't know if we're going to close at a new all-time high. My assumption is that we will, but we'll find out at 4:00. And if we do, I can guarantee you one thing, there's never been a crash within 30 days of a new all-time not even in and beyond way beyond 30 days, but there's never been one. Never. So, this time could be different, but um I don't see it. I don't see it anywhere. There's gobs of market breadth all around the globe. That's what I see. Your second question is about the FXI and the EEM. And what you're what I think your question was stating was why are these two going in different directions? They they're the same. They they emulate each other. And my answer to that question so I during one of the breaks I went ahead to look at what the top 10 holdings are. I don't know if I can blow this up. Let me see. Can I Yeah, you can blow up a notepad. So, here are the top 10 holdings inside of the FXI and the top 10 holdings inside the EEM. If you are wondering why the two are performing differently, it's because their holdings are different. The top holding inside of FX FXI is China Construction Company. China Construction Company is the number nine holding inside of the EEM. The number one holding is Taiwan Semiconductor. Taiwan Semiconductor is not even in the FXI. Samsung Electronics is in the EEM. Samsung Electronic Well, when I say not in, it's not in the top 10. I just went ahead and and and I did it. This is the top 10 as of this morning out there. So, you're looking at two completely different instruments out there. Um and and you could do that work, too. So, if you're looking at something and you're saying, "Hey, why ain't these two things agreeing?" Go and take a look at the underlying holdings there. And inside FXI and EEM, they couldn't be further apart from each other. But we'll take a look at the FXI, see what its signals are, and the EEM as soon as we come back from this break. >> Building wealth trading in the stock market seems impossible to most people. They think it's too volatile and too risky. Most people aren't going to take the time to educate themselves on how to do it right, but you're not most people, are you? At TFNN, you'll get the guidance you need to refine your strategies and techniques [music] to invest like a pro, because you'll be a pro. All TFNN subscriptions, books, software, and courses are available [music] at tfnn.com, and I'm even going to tell you how to get them for [music] less. 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Before investing, carefully consider a fund's investment objective, risks, charges, and expenses contained in the prospectus available at direction.com. Read carefully. ALPS Distributors, Inc. >> [music] [music] >> Welcome back. We got the chart for the FXI up on our screen out here. On a daily basis, we can say we're making lower highs. We're trading below profile support, as well as its green oscillator and change line. Says it wants lower price, then. Where's the next lower price? The weekly chart shows that we're trading within side this profile but below the center of its profile and it's a bearish structured profile. Well, that suggests to me GT is that price should go target 3449. If we get below that, the next price target becomes 3191. That's what's going on with regard to FXI. There's no additional information coming from the monthly chart. Let's try the emerging markets EEM. Now, the euro was has has broken out of consolidation. I expect the euro is going to move higher and the US dollar will move lower. The US dollar was testing some support this morning. Out here, if we take a look at the EEM, the EEM is trading higher. It is trading above It is trading above the center of its profile and its red oscillator and change line. No topping signal. So, it looks like it wants to go target the top of its profile, 6814. Before it can get to 6814, it's got to visit with its weekly oscillator and change line, which is currently printed 6751. It could be up to 6814 by the time price rallies up towards that level. So, both the weekly and the daily are suggesting higher price and so too is the monthly time frame. The monthly time frame found support at its green oscillator and change line. We're trading above that as well as a profile level. So, the emerging markets for its monthly time frame is bullish. For its weekly time frame, it's lost momentum, but it looks like it wants to rally towards the 67-68 level out there. That's what's going on with those two instruments. Ron in Denver is looking at a potential call position inside of ticker symbol APP. Let's see if we can help Ron out. We got APP right now trading out at $320.41. It's below profile support as well as its red oscillator and change line. It's trading in A to B equals C to pattern to the downside. It needs a bullish reversal candle to confirm a bottom. So, until we get that Ron, I say the answer to the question is no. If I look at the weekly chart, is the weekly chart confirming that? Shoot, the weekly chart is maybe be we've got an A to B equals C to D to the downside. So, a D point on a weekly basis is going to be February 13th, and the volume there was 55 million shares. This week we are at 33 million shares. Last week Oh, wait. Last week we closed below, too. Last week was with 45 million shares. 45 took out 55. Well, Ron, this is headed lower. Now, it's not what we call a confirmed A to B equals C to D pattern to the downside from a volume standpoint, but I'll tell you what, it's pretty confirmed in my mind. Why? Because we're going to close below a breakout level of 34211. What more information does one need? Breaking through that level is telling you something has changed. Now, I'm going to give you where that is headed to uh since you're looking at this, you know, you can look at this as price gets down towards that level again. That A to B equals C to D pattern is going to get us down towards around uh 232. Now, it turns out that the monthly time frame chart is got a Rose Mint indicator top, and price is pulling back into the buy zone of its profile between 255 and 309. Um but doesn't look like that's the bottom, Ron. Not with price trading below its weekly TD 9 count breakout level, not having a bullish reversal candle, or any kind of bottom signal on the daily time frame. So, my suggestion is not app is is I don't Hey, not that it can't rally because it most certainly can. But I think the rally gets capped by its oscillator and change down around $333 or so. So, hope that that helps you out. Gilead Sciences, let's look at PDYN. Let's get its charts up on our screen see what PDYN is doing. She's trading out right now at $6.49 within side a profile that formed yesterday. It's testing the top of that profile at 656. If you can close above that, that would be a beautiful thing. There's also a TD 9 count top that formed a few days ago. So, you need to close above that high, which is also going to be the profile, and that's going to be at the 656 level. Wait, uh No, 656. Yeah, 656. Um And if we close above that, uh then you're off to the races to the upside. Where would those races take us to? Well, the monthly chart shows the center of his profile at 779. So, it looks to me, if we can't take out 656, maybe what we do is we chop sideways, we pull back, we test the green oscillator and change line, we test the area of 574 to 588 before we start resuming our move higher. And that move higher ought to take us to 779. If we can clear 779, then we're looking at 813. 813 is the top of the weekly profile. Above that, 917, and then finally above that would be 1376. I haven't discussed any downside. Why? You got a nice weekly TD 9 count bottom, daily TD 9 count bottom. Um you might negate a TD 9 count top today or maybe next week. Everything is looking pretty good for PDYN. How about PGEN? Let's go find out what PGEN is doing. Get that up on our screen here. PGEN is trading now as we speak at uh $6.34. It's within side his daily profile. It has a sell TD 9 count top. The question is, has it found support? I don't know. But 623 is a support level, the bottom of his profile. A volume today so far in 2 hours of trading, we're about 2 million shares. Yesterday on the way down, it did 5 million shares. So, a little bit heavier in volume. If we were to close below 623, then the next target area would likely be 583. And 583 would be the green oscillator and change line. I do I do support your considered ad inside of PDYN. Yeah, I didn't see anything negative in those charts really other than was it the maybe a day they might pull back or so. I I I got to say that I don't know. It looked good, Dan, for sure. Um so, on PGEN though, you're going to watch that daily profile. We'd have to really go down into the intraday charts and I can't pull those up right now, not with the number of of requests that I've got, but but I'm going to keep it on my screen and we'll take a we'll take a we'll take a quick peek at it. Um, that's PGEN. Is this forming a bottom because the daily's back at a support level. Uh, the monthly time frame is in full breakout mode. So this supports moving up towards 984. Uh, the weekly has an A to B equals C to D pattern to the upside. That gets you towards the $8 level. So it's just dealing with the daily A to B equals C to D pattern. We don't know if getting back to the bottom of the profile was a bottom or not out there. Um, we got to quest a request of to take SPRT. SPRT. That is for Duncan Steve. So let's get that up on my screen. So SPRT, we can do this right down here so that I remember. Okay. SPRT, did I write that down correctly? That spirit? Yeah, I don't think I did. Shoot. All right, let's go with Stevie's. No, you wanted I don't know what you wanted. I I wrote it down improperly, that's for sure. INOD, I know that that ticker symbol exists. So what was it that Shoot. I'll have to wait till the break see if I can find out what that might have been. So INOD. INOD is trading below the bottom of its daily profile and it's attempting to reclaim that. In order to do that, you need to see a close above 64.93. And we're 64.39. 64.93 you want just the opposite. A close above that, that would be a positive and would say then, okay, we might go target 70.22 to 71.98. You got a nice wave seven bottom out there. That's courtesy of the Basil Chapman uh, toolbox. That's on the daily time frame. The weekly time frame has a TD 9 count top. Price pulls back. >> [music] >> And it's trading below its green oscillator and change line and daily support. This is not good. This is suggesting lower price. See you folks at TFNN. We'll be right back. >> [music] [music] >> If you spend any time online researching trading techniques on how to begin your trading journey, you've no doubt come across many folks who push forex trading as a way to make big money quickly. 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ALPS Distributors, Inc. >> This program is brought to you by Vista Gold, traded on the NYSE American and TSX under the symbol VGZ. >> [music] >> Welcome back, folks. Uh, just a quick um thought here. I do have those charts for PG and on our screen here. And our question was, is pulling back to a profile level of support a bottom and it can be and how would we know if it's a bottom but typically what you're going to find are bottoming signals on the other intraday time periods now there's 295 minute bars in a day that's why I use 195 minute you want equal time frame so you're comparing apples to apples and under 95 minute time frame chart is trading below profile support no bottom signal that says lower price same as 230 minute time frame chart in fact it has a negated TD 9 count bottom as the uh so this is the 65 minute time frame chart no bottom signal the 30 minute time frame chart negated a TD 9 count bottom and there's no bottom pattern on the 15 so what we know is that at least at this moment in time pulling back to 623 on a daily time frame was not a bottom is likely not a bottom out there so I hope that that helped you out Dan I didn't want you to take some action now knowing what you know about the intraday charts out there we're going to take a look at INOD and again this chart here it's just make sure that I I uh it's looking like it wants lower price and if it gets below 6028 then that's telling you you know much lower price out there and that could be all the way back to the 3450 level that's its weekly TD 9 count breakout area uh we had a question from WD to look at the euro um EUR USD let's get that up on our screen here uh the euro and uh so give me a second to get these charts up here uh so there was a it's been trade it was trading in a sideways consolidation that it broke out of I don't have that pattern drawn in here but we can draw that in if we need to uh you can actually you can really almost see it and you can see that we've got really a measured move breakout we're almost back up to the top but uh let's uh take a look at the in fact on the daily time frame chart here's what we know now we know that it's actually formed a wave seven that's letter G uh top out here and that was negated today. So, this is suggesting to you and I that that top failed uh and that the euro should move higher. If we look at a weekly time frame chart, the weekly time frame chart is now trading above, and it did close above just slightly last week its descending price channel. We're trading above its red oscillator and change line. That says to me it wants to rally further. So, the question is rally further to where? And there's really two price targets to the upside, WD. Uh the first price target is going to come from the monthly chart, perhaps come from the monthly chart. It's the monthly oscillator and change line. Now, the current level on that is 116. As price moves higher, so too will that. It's really 116.39. The weekly chart has 117.93 as its price target out there. And there's nothing on the daily time frame chart right now to stop the euro from moving higher out there. So, uh looks like it wants to rally further, and that will go ahead and move the US dollar lower. The US dollar index was took Can I do that here? Uh Let's see something here. And now, cuz I don't have the profile levels on the system any longer. That's right. Can't do that. Uh okay, so that idea just went out the door. Um That's what I've got for you on the uh euro. I can Yeah, I can't really do that cuz I got to change a bunch of things. I can't really pull up the US dollar index without uh Yeah, I I can't do it easily. But, I would say at this stage here, the euro looks to me like it wants to rally further. US dollar index will get weaker out there. Uh let's go take a look at our next request, which was from Hector, and it was to take a look at Tesla. Uh I went to the wrong chart. Sorry about that. Uh although it's it's it's similar because what uh What Hector would like to do is look at a 5-minute time frame chart, which I'm going to go ahead and pull up. All right. Oh my god. Put the wrong uh chart. Stevie, get your act together here. There we go. This ought to do it. Perfect. Okay. Third time was the charm. I was there all Oh my goodness. What the Sam heck? All right, so let's go ahead and pull up Tesla. How about that? We just got back to where we started. Oh my gosh. All right, so we pull up Tesla. The daily, the weekly, and the monthly are going to go ahead and populate. I'm going to show you and and he had a great question, really. And his question was he was looking at Tesla and he was looking at the intraday charts. He was looking specifically at the 5-minute time frame chart. And what he picked up on or I believe what he picked up on, he picked up on a trading desk that was exiting a position. Do you see this linear move here? Now, I can't prove this. I wish I could prove this. But this is a trading desks, okay? That got orders to to to get rid of not, you know, to eliminate some portion of Tesla's position out there. And what they do when they are doing that is they're just keeping it nice and easy. Look at this. Never gets above a prior high. Never gets much of a rally out there. Not until they basically have done they're done for their day. Done with that position. And your question was, is this good buy for some type of countertrend move out there? You know, it can be. But you But you'd like to have some kind of bottoming pattern out there, Hector. And on Tesla for the 5-minute time frame chart, the bottoming pattern that I would have was getting back to its second TD 9 count breakout level, which is 335 93. That's where it did find support, but have we made a higher high? Well, turns out on a 5-minute basis at 11:45, so just 2 minutes ago was the first higher high that we've made. And now the question is will price get through support through resistance? There's two resistance levels, Hector, and that's at 338 34 and 339 15 out there. But I think that this trade desk is gone. It's done. They've They've They're done jetting their position. They did it nicely. Uh you know, getting rid of shares go between 350 and 330 out there and they kind of held things in check. Now, let's take a look at the daily, the weekly, and the monthly time frame charts for Tesla. Just get a feel for what its message is. And on a daily basis, you've got a um TD 9 count top that is trying to be negated. It would be negated with a close above 341.64. So, I sure feel better about taking an intraday long position if we didn't have that daily TD 9 count top that's in place out there. That's the thing that would hold me back, Hector, to your thought process here. But, uh you know, make sure you you've make sure you grab a picture of this if you are going to trade Tesla from an intraday standpoint. Make sure you pay attention to the uh profile levels, the oscillator change lines. I'm just going to put that back up on your screen so you can take a quick snapshot of it and go from there. So, a great uh uh eye line uh picking up that uh trade desk that was jettisoning their position or at least a portion of their position inside of Tesla. Next question coming in from White Shark. Wants to take a look at Carmel, CRML is the ticker symbol. Uh might be nice to be in Carmel this weekend. It is a scorcher down here and I mean scorcher. I'm debating whether or not I'm going to do the 4-mi walk again after this show. Uh I I just got back really before I sat down at the desk here and um and usually the morning walks are not that tough. And this one was this one was a scorcher. In fact, like I'm not going out playing golf today. It's that hot. Um but, I will tomorrow at 8:30 and then the next day at 9:45 or 9:00 something. Anyways, Carmel, CRML has got a nice daily TD 9 count bottom, so White Shark, and it's trading within side its daily profile. 627 to 703, but really we're going to extend the top of that profile to a 787. It's TD 9 count breakdown resistance. So, nice daily bottom pattern. Just consolidation. Uh monthly chart, no bottom signal, but a consolidation within side this profile between It's a bullish structure profile. Buy zone between 567 623 resistance 789. Monthly chart is consolidating within side this profile as well. Uh your next request was to take a look at A L O Y. Let me get that up on the screen here. Hold the music down low, Al. If you would, let me try to get through this uh here if we can. Uh go ahead and populate. Come on. A L O Y traded out at 1449 above its daily profile and negated a daily TD 9 count top. This wants to move higher. The weekly supports moving higher. The weekly says resistance at 1627 and above that 22 bucks. We'll be right [music] back. >> [music] >> Many trading newsletters attempt to focus on a narrow set of equities or commodities. While this [music] works for some, it oftentimes misses many opportunities that possess huge gain potential. 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So, ignore the pop trading influencers and start learning time-tested technical analysis. >> In the world of trading, only a few names stand out like Larry Pesavento. A pro's pro with over 50 years of experience, Larry has seen it all. A former Chicago Mercantile Exchange member, Larry has authored 10 books and trained [music] over 1,000 traders with his unmatched expertise. Introducing Fibonacci 24/7, Larry Pesavento's daily trading service that turns the complexity of markets into opportunities. Published every Sunday, receive a comprehensive report packed with detailed commentary, >> [music] >> charts, and videos that illuminate the patterns shaping the markets with updates throughout the week exclusively [music] for subscribers. Whether through charts or videos, Larry's analysis is your road map to navigating the markets. You can sign up now at tfnn.com for just $97. And with all tfnn newsletters backed by a 30-day money-back guarantee, you have nothing to risk. For all the details, visit tfnn.com. [music] You'll find Fibonacci 24/7 right under the newsletters tab. >> Are you [music] ready to take charge of your financial future? TCNN is your gateway to the world of trading and investing. Whether you're starting out or scaling up, TCNN [music] empowers traders and investors of all skill levels with top-notch investing systems, strategies, and techniques. It's time to protect and grow your money with insight you can trust. Join us live Monday through Friday during market hours for exclusive content that moves with the markets. At TCNN, we bring the trading floor to you. Our season hosts [music] are here to answer your calls and questions live on the air. Check out the Tiger's Den for just $1 and follow us on YouTube and become part of our vibrant community. And remember, at TCNN, we're so confident in the value we provide that we offer a 30-day money-back guarantee on all new premium newsletter subscriptions and services. You have absolutely nothing to risk. So, why wait? Tune in live to Tiger TV and transform your trading journey. Because when you know better, you invest better. Join us and experience the difference today. TFN N educating investors. >> Welcome back, folks. A point of clarification here cuz I I don't want to confuse anyone. We started off the show by taking a look at New York Stock Exchange advanced client oscillator. The current print on that on my system is 61 407. The previous high was 61 613 645. So, it looks like we're going to make a new all-time high today. And what I stated was that when we have a New York Stock Exchange advanced decline line at a new all-time high, what it basically does is it pretty much eliminates the onset of a traditional bear market. Historically, bear markets form when we have price rising but the advanced decline line making lower highs out there. The only time there was a bear market, but there was Roseman indicator top before that was at the COVID crash. We were at an all-time high in the advanced decline line there. But we had already had other signals, other topping signals that were in place. We don't have any of those topping signals in place as we speak right now. So, that's true. What I just shared with you was just absolutely 100% 1000% true. But then I throw in, well, we're looking at the intraday charts here and you got the NQ that's got topping signals across the top. And the question was, doesn't that doesn't that integrate into what I just said? The answer to that is no, it does not. Not at all. These are intraday charts. If the New York Stock Exchange advanced decline line closes at a new all-time high, it basically eliminates historically any kind of bear market. That is not how bear market stop. This is intraday stuff. That's all that this is. So, one doesn't have to do with the one doesn't have anything to do with the other. It's a good point. I hope that it wasn't confusing to anyone out there. I hope I didn't re-confuse anyone. Let's finish out the show. Duncan Steve wanted to take Marvel out here. If you take a look at Marvel for the daily time frame, traded above the top of its bullish bearish structure daily profile 214.92. So, that's a positive. It's got resistance on a rally at its weekly auction exchange line 233.91. It needs to recapture that level and then it can go on to try to re- capture the bottom of its profile on a weekly basis 256.67. Those are your resistance levels to the upside on ticker symbol MRVL. Folks, what a wonderful week. Sorry about all the technical problems. But, hopefully those have been resolved and I'll look forward to seeing you on Marvelous Monday. In the meantime, have a fabulous Friday, a wonderful weekend out there and think peace. P E A C E. Peace, baby. Take care.