 Get 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 tandem time, also it's a great newsletter, the opening call. Now it's very easy to get Basil's newsletter, come over to our website at TFNN, you go into newsletters, you can see it on the left hand side, the second one down, they see the opening call right there, you just hit that subscribe button, you can get the opening call for one month for $149, you can get it for six months for $695, which is a savings of $199.22% and you can get it for one year for $1195, which is a savings of $593.33%. Now they all come folks with a 30 day money back guarantee, so the bottom line you can check it out, Basil has some outstanding webinars out there, he's got about 10 to 11 of them, you can go through them, really get a great education, understand how to ride that wave each and every day. Basil Chapman, what's going on? Hi Tom, how are you doing? I'm doing great, yourself? Very good, thank you. Hey, did the weather come in up there? Was it hot? Oh, it's going to be very nice. It's nice today, going to be playing tennis in another half hour and look forward to it. Good. Yeah, so this is an interesting market because on the way down, we were making lower lows and lower highs and it just kept going lower and lower and then I mentioned to you that on the, about the 12th of May, when the down made is low and then bounce and made this H pattern that looks like a lowercase H, took out the left side low and went down to $30,635 on the 20th of May, the technicals, just as the technicals back at the late March, early April high and then retested on April the 21st, where the first technical aspect was very strong, but when it went to a slightly higher high on the 21st of April, the technicals were actually weak. So I said to you, I think that we're seeing something here together with the technique that I use. We always look at the fourth highest peak, label them ABCD, said fourth highest peak at D, where other things can happen and what I said was, I think the DOG, which is one-to-one short the Dow or the DIA, the diamonds, is making a peak D and if it is a peak D, we've got the exact comparable thing here where the technicals on the left side round about the May the 12th and then testing with a higher high at $36.65 in the DOG on the 20th of May, the technicals were not nearly as good. So I said, I think I'm about to get some kind of a signal that's a turnaround signal. So we were very fortunate the next day we were able to go along the Dow and we've been long and we've actually had two positions, we added to that position, taken a little bit of money off, but we've added to that position and the Dow stopped right at the 50-period exponential moving average. That's the Dow daily. The weekly needs a lot of work, but what it had, another technique and actually for anyone listening and wants to know about some of the techniques, I talk about a technique where I draw two very thin parallel lines, it's like a little mini channel rather than a large channel and very often, in fact, a lot of times prices go towards those, that little mini channel and then you reverse either up or they reverse down and you can see in the daily chart, twice it went below the inside track on the daily chart and then closed above it, that was a good sign and you can see this weekly chart with this green line, the dash pink line, price went right into it. So we're now on a, I think by the end of the day I might have to upgrade this for the first time to a buy signal, that's not a buy mode, a buy mode implies there should be at least four higher peaks to peak deep. This just says all, you've got the stochastic now at 80%. I love to see that above 80%, it's right at 80.73. The magnum is good, the nine period today, the day's young, but at four o'clock today, if this L stays in place, that means that the nine period moving average is closing above the 14 period moving average and that'll be a good sign. So I have all the little ducks in order to say that I think I've got a buy signal coming up, doesn't mean to say I expected some kind of a pullback for today, but even today we made another nominal new high at 33,240. So I like the action on a shorter term basis. I can't talk about intermediate term until I see a lot more signs, I want to see the S&P continue high, I want to see the QQQ, NDX actually leading and so far. It's kind of struggling, you know, a very nice takeoff but now it's stalling. So there's a lot of action to go before I can really say, hey, I think we've turned the corner for a couple of weeks worth of upside action. I think that's the case, but I won't know until the Dow starts to trade closer to the 34,000 with the 200 period exponential moving averages, that'll be very good and yet we are 1,000 points lower at 33,000. So many of the signs are there to say you've got all the action you wanted for that turnaround, all the positives that you look for, but the weekly chart is the one that really needs to show some sign now with the technicals turning up. They're struggling and they're going to need a lot more, but I like the action as from the selling pressure that was going right into the low of the 20th, I like the way we've come out of it. And you know that this is still today, this is from the low of the 20th of May, this is still only a leg A to the upside. That doesn't mean to say, oh, you can automatically go to B and then a higher C and then a D, it just means that this is a really strong move from 30,600 to 33,240, all in one leg off the low. I like that. So we'll see. Right, so let me ask this, because on your system, because you're still not in a buy mood, you have a buy signal, right? What we do is we start off, and let me just show you this chart right here. So we start off, we try to identify the lowest low and see if we can get a signal. And then you can go all the way to peak A, all the way to peak G, but it's really the fourth highest peak, peak D, but I have to wait to get a confirmation that buy signal now has enough strength to take me to D. And I haven't yet got that. I'm close, but that's when those moving averages cross, right? And that's part of it is with moving averages cross, but especially, I like when the nine decisively crosses the, this is the pink, crosses the black, and turns to green. So that's a start. And I keep these moving averages. I don't use all of them all the time, like the 50 are hardly ever used the 50, but yeah, we are. We just bumped right for two days now. Stop dead at that 50, be a little dashed line there. So I just use them when I need them. But most importantly, I do like when the stochastic goes very quickly from under 20% to over 80% and you've got the MagD, then there's a particular technique that the reason why I put the stochastic always underneath the MagD is because it can often give me what I call a squash. And that says you can go very quickly to peak A, then a B, then a C, then it takes a little time. And this is the talk, the first gears that give you the power to move up. And then you need the power of the momentum of the MagD to continue to. So it's still early, but I do like what I'm seeing right now. Cool. Listen, folks, it's really easy to get Basil's newsletter. Come over to our website at TFNN. You're going to see it right in the left-hand side, second one down. You just hit subscribe and you are off to the races. And of course, as we were talking about, Basil has 10 to 12 archives out there. So you can really understand how the system works, folks. It's an awesome deal. And tomorrow I'll do some in my show at 10 o'clock. My target technicians are I'll talk about these moving averages because it's going to be a very important session. Yeah, that nine is a powerful deal, man. It is. They're all powerful. I really like the nine, though, because it's so quick. Do you know what I mean? Whether it's down or up, right? Correct. No doubt. Have a great one, Basil. Have a safe one. We look forward to your show tomorrow. Thank you, Tom. Thanks, man. Okay, stay right there, folks, and come right back.