 S&P's are flat. Let's get over to our mammoth to Basil Chapman as we do each and every Tuesday at 20 past the hour And don't forget folks Basil is an outstanding show here every trading day 10 to 11 Eastern standard time Also is a great newsletter the opening call now It's very easy to get the opening call folks come over to our website at TFN You go into newsletters you're gonna see it right in the left-hand side the opening call and you can get the opening Call for one month for a hundred and forty nine dollars six months for six ninety-five which is a savings of a hundred ninety-nine dollars are 22% and then for one full year for eleven ninety-five which is a savings of $593.30 or 33% now they all come in the 30-day money-back guarantee Basil has about 12 archives out there, so you'll really understand how the Chapman Wave works check it out You're gonna get a great newsletter. You're gonna get some great archives And we're gonna talk to our man, Mr. Basil Chapman right now. What's going on Basil? Hi, Tom. How are you? I'm doing great yourself Well, I'm good. Thank you good good So yeah last week you were talking about the weather and you said that although you were in Boston You're so used to the warm weather that even though we were having what we had in Boston We're considered to be a kind of a warmish day. You felt cold I did and yeah, this is part of what we look at all the time We are testing the waters of the climate and basically what we're looking at here You know in the Chapman Wave, we're always looking to identify the lowest low count eat successively higher peak Alphabetize them sequentially to the upside abc defg But it's at fourth highest peak peak D Which is the expectation of a buy signal upgraded to a buy mode that the price is going to go to at least Four higher peaks at that peak D other things can happen So the climate if you think about what's happening in terms of the speed with which November's extraordinary rally occurred Those those people that were extremely pessimistic by the time it came into the last week of November A lot of them felt. Oh my god. I'm missing. I've got to do something So they jumped into the water But the climate for them really was cold. They were not looking at this as a bull market They felt almost pushed into into getting into the market Well, so in other words the the psychological side was doing one thing the price or the action was doing something else So I like to look at this. I've had it for a long time. It's a technique. I discovered years ago I I called the Chapman Wave dark news cloud cover and basically I'm using the thousand example whenever we get this kind of this Dark news meaning this bad news. I'm just going to move this big rectangle away and you'll see that every time The price going through the certain area in November of 22 April of 2023 July of 2023 The market took the bad news which is always out there And it came tumbling down and one of the reasons is that if I don't care what the news is I always worry and I'm focused on What does the market think of it? So I haven't I I'd said yesterday during my show the tiger technicians out that I'm about to put in A little rectangle here, but I have to wait a couple of days before I formalize it I haven't really discussed it as a dark news cloud cover and one of the reasons is yields which is always I mean all every one of these highs What the big worry was yields there were other things as well, but All of a sudden yields is kind of off the chart If there's nothing you don't have to consider yields because yields are coming down So I'd say to subscribers I'm anticipating some kind of at the fourth peak peak days where other things can happen Here we are on the Dow at this peak D at 36,264 But I I had no really real intention of shorting the doubt We are short the semiconductors because of the chart formation But you can see with these two candles from yesterday and today This is not what you usually get when you get a very sharp decline And one of the reasons is the market's kind of there's more good news than bad news So that's for me the big sell-off that we would expect I don't see that so and I'm looking at the nine period moving average over the 14 that the MACD is good Sycastic still strong at 97. I mean textbooks tell you over 80 percent is overboard I said nonsense. You want to see it holding and flat at 95 97? That's beautiful. That's what you want And that's where we are. So so far I'm looking at this as a digestive phase Just a kind of a breather and one of the reasons is if you look at the Move that in the weekly chart. I have to give this an alternate count But basically what's happened? We are so close We're about 800 points away from the all-time high of jerry of 2022 of 36,952 And we're in leg C in the monthly chart. So the closer you get The greater the chances are that it suddenly becomes a magnet and wants to grab the price So I suspect if we get into the 36,600 is just going to be an eye blink away from an all-time high So that's the positive side. But always look at the semiconductors and say semiconductors lead the way up and they lead the way down And in this case it looked like they were going to be lagging and all of a sudden they made it an all-time high This past month they went to 165.44 and then they made a little double top and now we're pulling back not by much We already we've already just filled in the last big gap But we did go short and one of the things I'm looking at here is that If the semis are able to suddenly go from the 158 level that right now in in the next week or two And go above 163 and press make another all-time high That's going to be really positive But on the short term we've just got to watch really closely because 155 is the key support So I mentioned to you last week that we had bought Microsoft at 338 And it ran beautifully up to 384 in fact, I think it was either the day we spoke to you or the day after And we had taken small profits off and we were looking to get back in and this is the reason why I think for subscribers be watching this very closely because Microsoft had had been a leader right up until about five sessions ago Then it pulled back but look at the nice move up today. It just it didn't even wait I was hoping that we could get in for the little bits we took off to put them back at 163 63 And I never did that and look it's already a 372 and this is kind of saying that There's selectivity here, but we're starting to see a broadening out now You're starting to see the financial start to work that to me was really important You're starting to see the leadership kind of hold. They've had a bit of a pullback So I like what I'm seeing and um in my Um show today the target technicians how I discussed This champion wave roman candle. It's a particular candle that I I discovered over years ago And it's an inverted one and I gave a whole Synopsis on what I'd be looking for in this particular candle having made a pd Remember d's what we're always looking for and the pullback But if you look at all the technicals here So far the technicals are really good and even with the weekly so I I suspect that The action of gold and the action of the dollar Is telling us and the dollars moved up and so far. It's not a big big deal It's got a lot of resistance and it's only I mean 102 was that you remember I spoke to you about this left side Right side didn't sell my show as well 102 was the load back in august of 2022 We went to 107 and I said this this price time max is the bar symmetry where you can use the plumb line Right there. Um, this is the on the 11th of october This year we went to the 102 level and that should have been support and it is support But I still think that the dollar is this is a bounce So I'm I'm looking at this and I'm saying not too much has changed Over the last week even though we've got a balance yet because I think that the market generally is holding Really well if we go to the dark news, thanks basil. Have a great one. Have a safe one. Oh, thank you It's impossible to predict