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

[snorts] The following is a presentation of TFN, The Trader Edge with [music] Steve Roads. Call now toll-free [music] at 1877-927-6648 or [music] internationally at 727-8737618. The Trader Edge. Now, Steve Rose. Good morning, folks. Welcome to the September 14th, the magical Monday edition of today's Trader Ed show. I'm your host, Stevie. Perseverance roads who absolutely knows that 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 2x4 shift means we can find the gift in every set of circumstance that life is going to toss at us. Now today you and I we're going to go check on the circumstance of these markets. We'll go figure out what those bulls and bears what those buyers and sellers are communicating to you and I at just past 11:00 in the morning and 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. Please send that to Steve at tfn.com. Inside that subnet heading, please put radio show question. Now, if you're inside our Tiger Stand and really, you should be. Well, then any and every ping will do. So, let's go ahead and get this show started on magical Monday. Of course, this is Tiger Financial News Network. I'm Steve Roads. Welcome to the show. So, we begin our day here with a market moving to the downside. All the US indices trading lower. Dow 187 points, 51 for the S&P, 344 for the NASDAQ, 14 for the Russell, 23 23 for the transport, 67 680 for the semis, 227 for the NASDAQ composite golds up 87 bucks. Silver buck 57. Lights recruit is up 270. Natural gas up six pennies. 30-year Treasury is flat printed out at 10623. Lead our charge dollar-wise. The upside is Autozone up 74 bucks 2 and a half%. Pal L up 41 bucks 12%. Crowd Strike 31 bucks. CI Lily 24 bucks. Zcaler 23 bucks. To the downside at SanDisk 102 bucks. Asill Holdings 97. Luminum Holdings 89. G vernova 86. Monolithic power systems 86. So we got some shakers. We've also got some movers. Let's begin our day by taking a look at the equity future. Well, first let's talk about Friday. Friday's price action. ES mini forms a gartly buy pattern. You get that nice bullish uh uh uh bull sash candle confirms a bottom until the low gets taken out. That would be the low from Thursday, not the low from Friday. The low from Thursday is 765075. Until that gets taken out, you should expect anticipate. Yeah, expect anticipate that the ESB will rally up towards 7760. That's its daily ass maybe even the bottom of its uh profile at the 7787 mark. The ENQ has been trading in a sideways consolidation. We noted that on Friday. There's the pattern that we drew in there. Price was testing it three river morning star candle formation. Not that that was a bottom pattern, but was enough of a swing point to say, "Hey, if we close below that, we'll trigger an A to B equal city pattern to downside." Consolidation has held positive. Consolidation has held ES mini Bartley buy pattern. the Dow equity future contract now it may have bottomed right I'm going to just simply go ahead and in fact I should get rid of the A to B see right now anyways actually yeah it hasn't completed that pattern the reason why I say it may have bottom is price was able to pull back to its TD knockout breakout level 52418 we then on Friday form a bullish engulfing candle so even though it doesn't complete an A to B equal CD pattern getting back to the breakout level can be a bottom getting the calvary to arrive That's helpful. And now price is trading with inside a profile that continues to change. Right now it's a bullish structured profile with a buy zone between 52581 and the center which is at 52765. Assume at 6 p.m. this exists. If we close above the center of that profile increase the odds that we make a move to the top 53 uh 317. Now in the case of Russell 2000 there's two different A to B equal CD patterns to the downside. The small one just needs a bullish reversal candle. The large one needs a further move to the downside. And that further move to the downside would take us about the 2835 level. We'd get below its breakout area at 28.889. Um we are trading below profile support. It's also on change line. So it really needs uh some assistance out here. So the weak link amongst these four is the Russell 2000, but the ES mini wants to trade higher. The NQ the same. And I would have to say the Dow's giving us that exact same message with price trading above the center of that buller structured profile. That's under the assumption that it goes ahead and actually forms at 6:00 this evening. So let's go see what those intraday charts are signaling to you and I. The first intraday charts to show up are going to be the ES mini charts. As soon as they populate, we'll narrate them. Right now, all we've got is a runner in a rock. All right. Now, on a 10-minute time frame, earlier this morning, about 6:00, we got a nice road momentum indicator bottom, nice bullish engulfing candle confirming that pattern. What does price do? Makes a beline and forms a TD9 count top, does that at 740. What's price do? Pulls all the way back to its breakout level. Notice how I again I've shared with you coming back to a breakout level can be a bottom. There was no pattern there. Price comes back to that bottom. Can't bust them to the downside. Tries to bust them to the outside. So what we know today with certainty 7663 which is the 10-minute titty yankout breakout level that is a key level of support. So that's helpful. Where's the key level of resistance? Yeah, I don't know. Key level of resistance. I'm going to have to go with 760350 the 30 minute T9 count breakdown resistance level. That area held out there. Not like a ton of bottom signals. Okay. on those intraday charts out there. So, that's kind of scary. However, oh, this is No, let me see here. The low was 7661 and a quarter. We got down to 7662. No. So, no TD9 bottom pattern on that 2-hour time frame. Let's go take a look at the NQ chart. So, ES Mini. Okay. Uh, it's the 10-minute time frame chart. OB1 would love this. he would be loving this. It is a 10-minute chart that's been controlling things in the ES. Let's go take a look at the ENQ's charts out here. Um, we have rolled to the December contract. So, make sure you do that if you're getting different numbers than I am. That could be one of the reasons. Uh, the ENQ did have, my recollection, a 2hour rose momentum indicator bottom pattern. Yeah, most certainly does. And price is trading with inside a profile, new profile 29165 support resistance 29,400. So the resistance level for the ENQ pretty easy to identify. It's going to be at 29400. If we close above 29400, we likely make a move higher. Now that move higher may only get us to So there's an area inside of the ENQ on its four and 5 hour charts. Both had bullish structured profiles. Uh 29446 on the 5 hour, 2944 on the 4 hour. Those are the levels that price must close above to tell you and I that for those time frames it's more than a counter trend move. So that is the resistance level between 29 388 and 29446 out there. So clearing 29400 would be good but not good enough. You got to deal with the four and five hour TD9 count. Uh not TD9 count but the profile uh levels out there. Steve Roach with TFN. We come back this break. Ron asked a question about the midterm seasonal charts. I'll pull up an old one of those for him to take a look at. Uh GT1 say good XPEV at least on my my black background charts. I don't see a bottom there. I just see a rally up into resistance. We're going to look at Domino's Pizza and UPS. Of course, I'd love to hear from you as well. Steve at tfn.com. We'll be right back. [music] 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 tfn.com. 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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. All our newsletters come with a 30-day [music] money back guarantee, so you have absolutely nothing to worry about. Visit tfnn.com and try [music] Mastering Probability, 30 days, risk-free today. TFN, educating investors. >> TFN has launched the Tiger Zen, hosted at Discord. TFN has been educating traders for more than 20 years with [music] live programming hosted by a variety of professional traders during market hours, the Tigers Day, available to all Tigers and Tigresses for just $1 for the year. There's no [music] catch or added costs when you join our community of traders. Sign up today and become a part of this educational community of traders. Just visit [music] the front page of tfn.com. [music] >> [music] >> Welcome back, folks. Let's take a look at the midterm election uh cycle. Uh I went back to one of my old charts out here. Uh I don't have that system up and running at the moment. Uh uh Ron, this is for Ron in Denver. Uh but we are not in the midterm election seasonal cycle. The midterm election seasonal cycle, this is for the S&P 500. Sorry, this is for the Dow. this covers 129 years. If we were in that cycle, Ron, we would have topped out in the Dow in April. We didn't do that. We are not following along this pattern whatsoever. If anybody says that we are, okay, prove it to me cuz I don't see it on the chart. So, the midterm election seasonal cycle is in my opinion is not in play at all. It's never it has not been in play at all this year. That is not what we are following along. So, you know, we are in that time period. We are in that September time period. Let's do this here. Let's take a look at the equated ETF, the RSP out here. And well, let's go with the QQE. That's Yeah, let's go with the RSP. Let's do that. Let's do Let's do them both. I know we did this I think we might have done this on Friday as well, but I want to take a look at the equated ETFs. So, Ron, the equated ETFs typically point the true direction of the market. Now, the cool thing about the RSP is the daily time frame has a confirmed TD9 count bottom that formed on Thursday of last week. So, if we close below that and we know that September is a very poor month, it's going to add to the idea that September is going to be a bad month out here. That's that's how we take a look at it. But, we've got a nice bottom pattern on the daily time frame for the RSP. Now, today we're pulling back into that swing point. That swing point for back on September 10th had volume of 8 million shares. Little under two hours of trading, we've done 2.7. So that says we're about a 8 million share day coming into an 8 million share day. So you got pretty decent volume. That would then tell us if the RSP close the day below 2144 and under the assumption it's got about 8 million shares, we likely go down and test that low at 2130. If we test and reject it on lighter volume, less than 8 million shares, well then you likely rally up towards the green oscill. Now the RSP formed on Friday a new profile above price. That in itself is a bearish directional message out there. Does mean price gap back inside there but does say we have overhead supply. Now that overhead supply is competing with the buy zone of the weekly time frame chart. The weekly time frame chart has a buy zone between 21249 and 21370 and the monthly chart which at this moment is showing a rose momentum indicator top has not closed below its green oid and change line and that's going to be a requirement if we're going to see any kind of downside pressure here. So right now the RSP is giving you great information. Now we're going to have a horrible September. It's the 14th. Hasn't really been too too bad out there, but I would say September gets worse if we close below that RSP daily TD9 count bottom pattern. So, that number to be watching out here is going to be 213. Now, if we look at the QQ, that's equated ETF. Whoops. Got to put in the correct symbol for the Q's out there. Now, the QQ had made a new all-time high a few weeks back. Maybe it's three weeks now. could even be four weeks uh back, but it made a new all-time high. In the history of the QQEW, we've never seen the Dow have the Dow, the NASDAQ 100 have a 20% correction when the QQEW has made a new all-time high, but the Q's have not. Let me restate that. The Q's have not made a new all-time high where the QEW did. The QQEW, the equated ETF, has never had a 20% correction when it's made a high first. Instead, what's taken place is the Q's end up making a new all-time high. Now, on the daily chart for the QQEW, unlike the RSP, we don't have a bottom pattern here. Do we have a A to B equals CD pattern? Okay, let's say we do. We don't have a bullish reversal candle. We don't have to drive that in. The QQEW charts are suggesting that price might pull back to 28.883 and 2883 would be the bottom of its weekly profile. We've got one more equal weighted chart. We can take a look at the Dow. ED. Let's go see what it is communicating. Q and I wrong symbol. Oh, QEW. Jeez Louise. Thank you, Mr. Bill. Wasn't even paying attention. Thank you. Thank you. Hold on a second here. Well, let's let's stick with the ED and then we'll come back because it takes some time to uh to uh uh to put this together. So on ED TD9 count top forms a buy the DOI bottom. It does that with Friday's gap to the upside. Friday forms a new bare structure daily profile. The ED is testing that sell zone. That sell zone exists between 4575 and 4592. So, you do have a daily bottom pattern. If that daily bottom pattern fails, we're likely to get back towards the 4377 level. 4377 would be the next level of support on the daily time frame. And it turns out that is its breakout level. Turns out we also have a breakout level 4377 on the weekly time frame. Price will not get back there until it can pierce through, close below, trade below its monthly oscillator and change line. The monthly time frame chart for ED bearish reversal candle would form a sell the D point top. The weekly time frame chart does not have any kind of topping pattern whatsoever. Interesting. Okay, now let's put up QQ cuz I had the wrong symbol in there. Thank you. Thank you to my wingman, Mr. Bill. I just need just needed a 2x4 just to whack me upside the head there. Then I would really know. Um, but then you hurt my neck even more. Yeah, the neck is not doing so good. Bummer. Okay, so QQW, now this is interesting. Thank you, Mr. Bill, for pointing out it was the wrong symbol. Guess what QQ is going to do today, folks? It's going to form a TD9 count bottom. It'll complete that pattern tomorrow. The only way it doesn't form a TD9 count bottom pattern today is price has got to have one heck of a rally. Now, one heck of a rally would take the QQEW above 15911. It's not a likely outcome. So, you're going to get a confirmed TD9 bottom pattern in QQEW. That pattern will complete on uh tomorrow. What should unfold? There's also a new profile formed above price on Friday. Again, a bearish message. But what should still unfold here? The QQEW should rally towards that oscill 16125. The weekly time frame chart, price has gotten back to its buy zone between 15248 and 15577. Monthly chart, no top whatsoever in the QEW. And that's what's telling us that September's just kind of made. Hey, look, it could be more than September. Oh, on a retracement here. You know what we do know? Our retracements can last right two to four bars typically in a bull market. If you look at QQW on this monthly time frame, right, we've been in a bull market. What are those retracements? They're basically two or three bar retracements out there. So, there's a possibility. I'm not discounting it. I'm not discounting that September could be the low of lows or anything out there. But right now, we have key levels of support that have held. We have longerterm charts that don't have topping patterns. Those are all suggesting that once we get through this phase, we head higher. and the TD9 count bottom pattern on QEDW. Boy, that's a beautiful thing. So, it's tomorrow's pattern that's going to complete. And the nice thing about those two patterns for RSP and QEW is we take out those lows, we know we are headed lower. So, that's what's going on there. We come back to this break, let's go take a look at XPEV for GT, Domino's Pizza for Dan, UPS for Dan, XE for Lee, KWEB, and BU. Ste Ro uh MSTR for peak G [music] roads with TFN. 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TFN, educating investors. This portion of the Trader Edge is brought to you by Directions Daily Leveraged and inverse ETFs. Whether you're a bull or a bear, you choose the direction. Visit direction.com. Investing in the funds involves significant risk and should only be utilized by investors who understand the impact of leverage and actively monitor their portfolio. They are not designed to track the underlying index or security for more than a day. Before investing, carefully consider a fund's investment objective, risks, charges, and expenses contained in the perspectus available at direction.com. Read carefully. ALPS Distributors, Inc. [music] Welcome back, folks. We got the charts up here for XPV. This for GTE. Boy, he'd love to find a bottom here in this instrument. And it's not just yet. You've got a beautiful monthly chart. It's going to complete a TD9 count bottom pattern in uh just over two weeks, right? two weeks and two days out there. The weekly chart is in bar number eight, but bar number seven so far is the low. If there's going to be a TD9 count bottom pattern in XPE, you have to push through last week's low. That means you've got to tick below at a minimum. You have to tick below 1031. A bullish reversal candle, on the other hand, would generate a roads momentum indicator bottom. That's what you're waiting for. You're waiting for a weekly confirmed bottom signal at least at this moment in time in order to get the all clear on the long position inside of XPEV. Of course, you also want to see this thing close above its oscillator and change line that's up at 11:10. So, today you've got a nice rally. Why do we have a nice rally today? Because we have a confirmed TD9 count bottom pattern. We went ahead and confirmed that on Friday. Thursday was the low. That was bar number eight. This completes the pattern and we probably are going to rally up into its trend line. that's up a little bit higher. So just because we rally up towards about 11 bucks or something, no, that does not mean a bottom is in. But if we do rally and if we do get a bullish reversal cand on the weekly time frame, that changes the whole picture. So on XPEV, that's what you're waiting for right now. You have an inside bar. It's only a few hours in the trading session. What do inside bars mean? Inside bars typically tell us that we're going the same direction that we came from. on a weekly chart that would be to the downside. So, what you really want out here, you really want to see this daily titty dank bottom pattern fail or you want to see things really rally and get a bullish reversal candle on the weekly time frame. So, that's what's going on with XPEV. Hope that helps you out. Dan, let's go take a look at Domino's Pizza. DPZ is the ticker symbol. Let's go see what it is doing. You got Domino's pizza. Uh, last fired off at about $3212. That's an expensive pizza. I see an A to B equals CD pattern to downside. I don't see the completion of that. At least I don't visually see that. Maybe it has completed. Let's go find out yet. A daily TD9 count top forms a daily TD9 count bottom. Then we get a little bit of a rally and now it's turned into an A to B equal CD pattern to the downside. Let's go ahead and see where we're at on that. Uh we are just shy, not by too much but um said 30976 we got down to 31064. You got a bull sash candle today. Uh Dan um and I'm maybe maybe it did hit the exact day to be equal city pattern or close enough to it. So let's go with the assumption that this qualifies as a buy the Dpoint bottom pattern. What you should then see is a rally up towards that old buy zone which becomes the counter trend area. If it's only a counter trend move in Domino's Pizza, it'll find resistance between 332 and 338. If it closes above 338, there's something better going on. If you look at the weekly time frame chart, a nice TD9 count, I'm sorry, rose momentum indicator bottom. Price last week closed inside its swing point that had that bottom, but now we're back above it. Right now, Dan, we just have a consolidation inside the weekly profile between 3303 and 33610, but you've got a daily bottom and you've got a weekly bottom. How about the monthly? Turns out you got a monthly bottom. Now, that monthly bottom formed that bull sash candle two months ago and price rallies up in that red os change line. So, it's kind of suspect, but we are testing the monthly swing point from back in June of 2026. And the volume there was two 20 million shares. This month, 5 million shares in Domino's Pizza. That'd be like a 10 million share month. Boy, you'd love to see Domino's Pizza test and reject that swing point, having formed a buy the D point bottom, rallying into resistance, pulling back and testing support and rejecting that. That's what you'd really like to see out there. Does that make sense? So assuming that Domino's Pizza does reject that swing point and what I mean by that is closes the month above 282 even Steven no 326.85 closes above 3 2685 you'd have a nice testy rejection. Right now we're inside that swing point. So I can't tell you what it's uh you know what it's going to do but the the daily looks like it's bottom. It's really close that buy the deep one. So Dan, I hope that helped you out. You're also looking at UPS. Let's get a charts up on our screen. See what we can find here in UPS. We are trading beautiful TD9 bottom pattern completes today. Price is traded with inside its profile. No, it's forming a new profile. How about that? What you really want to see with Domino's Pizza, Dan, is a close above 10193. Why? Because that's the bottom of the new profile. You'd hate for that to be resistance, but it could be. If you can close above 10193, you likely make a move to the 10380 1050 level. If you close above 10505, you likely get towards the 10907 level. That's the center of its weekly profile. So, the daily we know has a bottom. The weekly is testing a swing point from back on the week of May 22nd. That swing point had volume of 25 million shares. We closed inside it last week with 13 million shares, light volume. I would say this week if we can close above 1017 or 1015 on lighter volume, then you'd have a bottom on the weekly time frame. attested the swing point to go with the daily TD9 count bottom to go with the monthly TD9 bottom that rallied up into the center of its profile gave it up and just been trading somewhat sideways to lower quite frankly but you got a bottom on UPS for the monthly you've got a bottom on the daily and remember coming back to the breakout level on the weekly chart can be a bottom pattern in this instance here because we're trading into its swing point that potentially formed that bottom the week of May 22nd. That's going to be our gauge as to whether or not there is a bottom pattern in UPS. Let's go take a look at XE. This for LB. He'd really like to take this more from the longer term standpoint. I believe is a longerterm holder of XE. So, let's go see what its charts are communicating to you and I. XE on a monthly time frame G is unfortunately not really helpful to us. But the weekly is and the weekly forms a TD9 bottom pattern. It does it the week of July 17. We are trading inside that swing point which had volume of 24 million shares. We're traded into it. We closed into it last week with 37 million shares. When you close inside a swing point, often times it suggests that you go test that low. In that case, it's saying that we should get back to test 1329. The daily time frame chart tops with a TD9 count topping pattern. Friday closing below its breakout level. If it closes again the day uh below albeit below TD9 breakout support where it closed on Friday 1556, I'd have to say that this is likely headed lower with that 1436 or is TD9 bottom on the weekly chart being the level that gets tested and that would be at 1329. Steve Ro with TFN. We'll be right back. [music] >> [music] [music] >> If you [music] spend any time online researching trading techniques on how to begin your trading journey, you've no doubt come across [music] many folks who push forex trading as a way to make big money quickly. Unfortunately, there are equally as many stories of [music] these so-called Forex professionals just looking to make a quick buck off aspiring traders without actually teaching the ins and outs of the Forex market. This is what sets Teddy Keks [music] the Tiger Forex report off the riff raff. 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We got that China internet KWEB uh set of charts up on our screen out here. daily time frame you know because of the currency conversions really hard to read I don't see any kind of bottom patterns out here I see price tradeable profile support is red also has changed it looks to me GT like wants to go tackle that breakout level at 2433 weekly time frame chart no bottom pattern we closed below profile support on Friday profile support is at 2473 we're trading below its red os and change line if we close again now we closed inside swing point that was back on a weekly basis on June 26. Volume there was 118 million shares. We closed inside it with 50 million shares. So light volume but nonetheless he closed inside it again. I think it increased the odds that you get back and test that low. The monthly chart supports a further move lower. Now we are trading into its monthly swing point. October of 2022 volume was 545 million shares. We get into it with 447. We get into it with 383. This month we've got 101. So very light volume, but you're still inside that swing point. And not until you get outside that swing point. And what that means is a close above 2673 will you potentially be out of any kind of woods out there. So that's what we've got for KWEB. Peak G wants to look at MSTR. Let's get its charts up on our screen. See what MSTR is doing. So, we've got this trading out right now. Last trade fired off in the uh 135 area, which is above the top of its daily profile. The top of its daily profile is 135. It's 135. So, we're trading above profile resistance. We're trading above green and change line. We have no topping pattern. The daily time frame suggests a further rally peak. We are trading above slightly the top of its weekly profile and that's at 13426. As long as we remain above that, price wants to rally. The monthly chart is trying to reclaim its profile, but it formed a rose momentum indicate. I'm sorry, it formed a buy the Dpoint bottom pattern and it did that last month. What it's trying to do now is reclaim that profile. In order for this to be something more than a counter trend move, MSTR must close above 16621. Now, I'm not saying it has to be tomorrow. I can't give you a day. I'm just telling you if price gets up to 16621, makes a beline to the south, be careful cuz that's where counter trend moves would come to an end. But right now, the daily says rally, the weekly says rally, the monthly is trying to do the same thing. And if we can get it just simply trading back above 13519 and your 13560 that is likely what you are going to see for MSTR. How about BU for GTE? Let's go pull those sets of charts up on our screen. See what they are doing. We got BU trading out right now at about 80 I'm sorry uh $92.13 inside its daily profile having formed a TD9 count bottom pattern a couple weeks ago. So, it's really just led to a consolidation between 9134 and 9830. The weekly time frame chart. So, the weekly time frame chart negated its buy the DOI bottom pattern last week. It closed below its bullish hammer candle. A new bullish reversal candle this week would form another buy the deepoint bottom pattern. You got a new profile that formed last week. You want to see this get back inside its profile. That means you want to see this close above and trade above 9262. Until it does that, you've got pressure to the downside. Monthly chart has pulled back. I don't see a top. I see price pulling back to the buy zone. So, you got a nice bottom on the daily. Weekly could form another buy the deepoint bottom pattern at week's end. And the monthly, well, it's found support at the buy zone. So, there's potential here. You'd really like to see the weekly give you that new by the Dpoint bottom pattern. Brent would like to take ticker symbol LS. He is does not have a position. He's looking to see if my charts have got any kind of signals of bottoming. Let's go find out. You got lace printing out right now at about $92. I take that back at 75. Brent's just teasing me. Today is going to become bar number eight of ATD9 count bottom pattern. What that means is that tomorrow price must close below price must close below 80. If you get a close below 80 cents tomorrow, you'll have a TD9 count bottom pattern for its daily time frame. The weekly has a TD9 count bottom from back on February 6 that had volume of 36 million shares. Last week you closed inside it with oh 74 million shares. Shoot Brent and below the bottom of its weekly profile is red and change line and the monthly trade below breakout support at 98 bucks. Yeah, you got a teeny Nal bottom pattern. Absolutely. That's going to go ahead and form tomorrow complete on Wednesday. But the weekly and daily are suggesting that we're going to head lower. So that's what I've got out there. Um I wish we didn't close inside that swing point on a weekly basis with volume and I wish we weren't trading below it breakout level on the monthly time frame. So I do hope that helps you out. Brent, thanks so much for taking the time to write in. Duncan Steve would like to look at LW LG. Let's get LWLG up on our screen. Let's go see what his charts are communicating to us. So you got LWLG firing off at um what 493 493 takes us below the bottom of its daily bullish structured profile. It's red os and change line that says lower price. I have to go with lower price in between a range. The range would be on the low end 337 the weekly TD9 count breakout level on the high end 443 the bottom of its monthly profile. LWLG I've got it really more like wave number seven. So that's not a bottom. This is this is definitely looking like lower price LWLG. Let's take a look at LIT Duncan. See if we can get that set of charts up on our screen here. See what that might be doing. L I T. Let's go see what this is trading at. It's last trade fired off at. I'm telling you, my neck is in such bad shape. Oh. Oh man. Okay. So, you've got this pulling back, testing the top of its daily profile. At least that's what it appears at 839.88. So, you like that? If it closes below 83988, Dunk, you're likely to get a move to 80207. That's where a counter trend moves to the downside die. If it closed below 80207, it's more than a counter trend move. Could be telling you about a move to 745. Could be telling you about a move just simply to 770, the bottom of the weekly profile. The weekly profile is consolidating inside uh it's a zone between 77043. It's got a buy zone really between 77 77043 and 85018. So just a consolidation on the weekly. Now the weekly's got a nice teenag bottom. Took it up to profile resistance backed off. Monthly chart. Monthly chart needs a bearish reversal candle to confirm a roachment indicator top. We don't have that. You just have a consolidation with inside profile 616 to 1085 Dunk. Um nothing here is telling us that it needs to rally but you are holding support and if you close below 83988 you likely head lower. Steve Roach with TFN. We'll be right back. [music] >> [music] >> Many trading newsletters attempt to focus on a narrow set of equities or commodities. While this works for some, it often times misses many opportunities that possess huge [music] 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 than most trading influencers [music] have been alive. And over that time, he has honed his methodology in order to [music] accurately call movements in a wide range of equities from semiconductors to uranium to key indices and [music] so much more. 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We ought to see the 10-year note rally at least into a change line. That's currently printed about 10629. So, say 107. Uh if we can get above that oscillating and change line, we could make it all the way up to the bottom of its profile about 10718 out there. So see bottom on the 30-year. Um you're interested in the SMH. The question is when did the SMH did the SMH's bottom? Let's go pull up its set of charts up here. SMH that's going on. SMH. There we go. Okay. So we take a look at the SMH's out here. I believe they're just trading above their oscillation chain. No, they're trading below. Okay, gap down below. So, the the SMH has formed a by the DOI bottom pattern, GTE, and it did it on the trading session of let me give you the date. It did it on the trading session of July 30th. Forms that nice um uh bull sash candle out there. Price has actually pulled back. Hasn't made its way all the way back into the swing point. By the way, Swing Point is from back on June 29 and that had volume of 19 million shares. Today, we're pulling back and we have 5 million shares. So, very light volume and we're pulling back into the buy zone. So, the SMH's already have a bottom. They [snorts] run into resistance. I'm not sure why because it was above the profile. So, it must been something on the weekly. Doesn't matter. Right now, price is trading inside the buy zone. So, it's got the support in between 52131 and 538. The weekly chart is testing profile support. So, if things are going to croak, they're going to move to the downside. We're going to see a close below the bottom of that weekly profile at 54152. The monthly chart has a sell point top price formed a new profile below price. That's a bullish signal out there. Folks, we're out of time, but we'll have more time tomorrow. So, please join me on Terrific Tuesday. In the meantime, please have a marvelous Monday. Thanks for joining me. We'll look forward to speaking with you again soon. Take care now. >> [music]