 Let's go over to our man Mr. Basil Chapman as we do each and every Tuesday and don't forget folks Basil has 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. You just come over to our website of TF&N You're gonna see it right under featured content You just hit our man Mr. Basil Chapman You hit that subscribe button and you're gonna be riding that wave and that wave folks, okay? Monthly cost $149 for six months at $6.95 Which is a savings of $199 or 22% and a yearly cost is $11.95 Which is a savings of $593 of 33% now They all come with a 30-day money-back guarantee and Basil has a huge amount of archives on His site and you know what folks when you get vaults and markets at bottom line You know yeah, this is not about buying the dip trust me, okay? Check it out. He's got great archives can ride that wave You can really understand and get a system going so you can kind of comprehend how things work inside the marketplace Basil Chapman, what's going on? Hi, Tom. How are you doing great man yourself? Very good very interesting market as we are right at this moment. There's a patent that I've spoken to you about Last week and I said in my work and you mentioned the archives I discuss this in my archives all the time as well as my subscription service my daily newsletter So there are three chart formations I always look at straight line up or down Cup formation or arch formation you can again get a mix of one and two or one and three In this case we're looking at the red one which is like an H pattern and when the price fails How it takes out the left side low is really important So a couple of things have happened now. Let me move this chart away And I'll show you for the doubt from the high on the 5th of January 36,000 952 it came down for four days and then balanced and made this H pattern took it out on the left side 35,000 689 low they went straight down to 33,150 on the 24th of January made a very big arch formation Took it out on the 24th of Feb ran up to this peak B and 34,179 So I said on my show today that this was really critical unless something was said during the president's announcement earlier on If it stalls that's really important because this right side of the arch You can see when it starts the momentum to the downside The magnet of that left side low is so strong that it takes a lot to stop it So it looked like it was going to stop me when there was big that big rally But it failed we went down lower and now we're up about a hundred and forty five points So this is fairly critical. But what I thought I'd do I don't do this very often So I thought I'd take the time right now a long time ago, maybe 12 13 years ago There was someone that I knew very well. It was very good at doing coding in trade station, which is what I use as a platform and I had him at some point I had him make certain resistance and support lines based on My use of the magde and the stochastic So I don't use them all the time But they are really very important where they become cluster formations and here I'm showing you this is on the left Here's the the Dow daily right in the corners of the 10-minute chart in the middle is the weekly and on the right is the monthly and right here inside This monthly. I've got the hundred and twenty minute chart What it shows on a very short-term basis is this whole area the thirty two thousand seven hundreds To the thirty two thousand four hundred these key support in the very near-term ten and hundred and twenty minute chart But for the first time I had to wait and wait because it takes a while when you go through the look back period When you've made tops it takes a little while to really form support levels Look at the cluster right here in the doubt the top there were these levels of 36,000 422 to 37,000 in the daily and look at the clusters right here 36,400 36,500 in the weekly and even the monthly up to 36,750 and look how we reverse down sharply. So I've been waiting for Significant support levels to come in and the last one here is thirty two thousand three forty four on the daily chart If that's taken out we're looking at thirty two thirty two thousand to ten in the weekly and then thirty two thousand That's yeah, thirty two thousand nine eighty six and in the monthly chart thirty one thousand six hundred So all of these levels Basil just was the daily one again because I remember that you you bring this up in your program So what was the daily one thirty two thousand three forty four? Okay? That's but that is on the automated Chapman wave support levels, but when I go to the chart itself what I said is if we go below thirty two thousand Seven fifty today that was during the show. Yeah, I remember that you gotta be really careful The thirty two thousand five seventy levels the next support after that is just a straight line down to thirty two thousand two seventy two All I'm saying is that that was the low on the twenty fourth, right? I see I see. Okay. Yeah the power of the arch Formation is shown here because this rally this is my daily chart that I show my subscribers every day that We couldn't even hold above the 14 period moving average. So the weight of the downside Something absolutely very dramatic has to happen to have not just a balance I mean we've seen thousand point moves up and down and up to have a really sustained move into the thirty four thousands at this particular point It's going to take something that is generated either crude oil falls sharply as something something really has to happen, but you know you were talking about wheat just a moment ago This is a continuous contract of wheat. So these little circles I mentioned on my show yet Yesterday and the day before said the folks I just circle this because you wouldn't have seen it But this was a limit up right right here. So I circled it because it's a straight line river cool Look that it opens at 1209. It has a high of 1209 It's the lowest 1209 and closes 1209 because it's limit up then the next day We do the same thing that was yesterday. We were numbered up to 1294 and then you would expect That the the gaps would be filled in this is we there's a continuous contract of we leg in the daily Like D in the weekly leg G stash C in the monthly and look what happened It did pull back into the gap and then it ran even higher It went to a high today of 1363 and a half and even now it's closing towards the gap of yesterday So it's telling us that right at this particular point We haven't really resolved anything other than very very short term in the whole wheat sacks And when you think about Ukrainians that they're a big supplier of wheat They can't turn around. Let's just say for let's imagine the best case scenario within a week Suddenly there's a relaxation of everything Farmers can't do anything where they're gonna where they're gonna ship the stuff to what are they going to do? so I think these are intrinsic Areas of concern with crude oil skyrocketing skyrocketing and you know We've been talking about the DB contract the DB see DBA, which is a DB agricultural fund Which is we've had for a long time for subscribers to an opening call Look at this. It's just holding so well and this has the grains Plus that sugar so my concern here is that on a very short-term basis sure we could get some kind of a balance To get something lost in a lot longer. I think we have to have some Some really strong pullback in crude oil in the grains. We'll see how that plays out And folks it's very easy to get Bowser's news that I come over to our website at TFNN You're gonna see it right under featured content the opening call right on the left-hand side Just hit that button and you are off to the races Bowser's have a great one safe one We'll look forward to show tomorrow morning. Thank you very much Tommy you too