 Let's go over to Amnesty Basil Chapman as we do each and every Tuesday at 20 past the hour. Don't forget, folks, Basil, as I was saying on the show here, every trading day, 10 to 11 Eastern Standard Time, also has a great newsletter, the opening call. Now, it's very easy to get the opening call, come over to our website at TfN, you're going to go into the newsletters, you're going to see the opening call, in fact you're going to see it says subscribe to the webinar, we're going to get both, which is pretty cool. 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, or 22%, and you can get it for one full year for $1195, which is a savings of $593, or 33%. Now they all come with a 30-day money-back guarantee, Basil has a huge amount of archives on there, you also get to get all those archives. Basil Chapman, what's going on? Well, it's not a very pleasant day in the market, the house down 421, so I thought a lot of red, no doubt. A lot of red, I thought I'd just review where we are for subscribers to my opening call. Okay. So, using one of the techniques that I'm really fond of, we managed to go short the day of the high for the down-to-down on the 1st of August in 35,679, and we went short, we're still short, we also went short two days after the all-time high in the SMHs, which is the semiconductor index, SMHs here it is, right here, 161.17 was the all-time high, July the 31st, and what's fascinating about this is you made a high in the SMHs, this is the market vector semiconductor ETF, and November of 2021 at 159.42 came all the way down to 83.49 and then ran to two points above that, 161.17, it's amazing that it made an all-time high. Well, when it did that, there was a doji candle, it was actually a Chapman reverse, it's a red inverse Roman candle, I'll talk about that on my show tomorrow if anyone's interested in my show at 10 o'clock in the Tiger Technicians Hour, but then there was a doji candle, and then right at the all-time high, instead of having this huge candle, an all-time high just squeaks to this tiny little doji candle on the 31st of July, and the following day it made a lower low, and then I looked at it and I said, everything about this says to me, this is the day after we had gone short the Dow, that this semiconductor index has run its course and it should be turning down, so we went short two days after the high within two points of the high and we are still short. Now if you use a one-to-one, this is the, I call it the Tiger Financial News Networks, A to B equals C to D, completely different to my notation of higher peaks, ABCDFG and lower troughs, the same thing, this is different. We are within a point or so of that equidistant move from 161.17 down to 143.35 and back up to the 150s and now we've come down, so this is actually a pretty important moment, but that's just part of the story, the real story is you can see this weekly chart and I always think that the semiconductor index kind of leads the market up and down over the decades, I followed it for just forever, and it just seems to me that that happens so often that you've got to respect this, so there's a pattern that I call the dreaded H where you come down sharply, then you arch over, it looks like a lowercase h added a peak A or a B, it breaks the left side low, well we've done that now in the weekly chart and that just says that we're now underneath this inside track, what was a propellant zone is now a repellant zone, so all of these things are saying that it's not going to be easy because the other thing is the dollar is run up, I use this indicator called the 914 exponential moving averages and I've been saying this for some time that 9 period moving averages, green line, the daily chart is so strongly above the 14 period moving average that to really get the dollar to break down, you'd have to see it probably under 104.30 and right now it's at 106.24, so so far just as we're speaking right now, I don't have any indication on the dollar that it's going to, maybe it can have a little pullback but I don't see a major turn yet, I will see it if there's about a two or three point decline in the next week or so, but so far and the other thing I've been talking about in the dollar is that there was a series, I'm going to squeeze this a little bit so you can see it better right here, so this is the weekly chart, so 114.78 was the high in September of 2022 in the dollar and it comes down and then it makes this pattern that I call, I should show it to you right here if I can get it quick enough, let's see if I can do that, yeah so the pattern that I spoke about earlier on is where you come down sharply, make a little balance and then fail at a peak A or B and that I call the dreaded H, well in the weekly chart it made this lower case H and the lower case H if it holds the left side low can then make an arch that goes to a lower case M so it's just two small arches and it broke down and hit the 200-period moving average so it sounds like the dollar's just fantastic but actually all the dollar's done is gone back into this rectangle what I mentioned about three months ago and then two months ago, then a month ago I said I'm waiting because until the dollar can close for two out of three weeks above the high that was made back in the week of the 10th of March of 105.88 I need to see, I need to see a decisive break because this rectangle pattern can actually become a magnet so the price goes up but if it doesn't close nicely above the arch high it can come right back so this is a pretty critical moment on the weekly chart and then talking about the weekly chart look at this but I should just also mention that we are shorty, we are longer uranium stock, we're still longer, we have fabulous profits, we're still holding it and it's funny in this environment it might be because crude oil's moved up so this is part of the energy sector so we're in at about 3.64 and it's now trading at 5.24 and we're holding it and it's yeah it is nice because in this environment to have something moving up is very it's good so I just wanted to show you that in the in the weekly charts look the dollar so the Dow this is just the beginning of the week I have to wait until Friday's close but you can see there's an S that means the nine period went under the 14 period moving average and that's the first time it's done that in the weekly chart since oh way back the last time it was negative was back in November of 2022 so I'm watching this very closely if you look at the S and P the S and P is the same same thing it's right it's also done this one to one it's right on the 200 period moving average as we speak right now in the daily chart but you've done the dreaded H this H pattern which very often if you break down you can go one to one to the downside so it the nine period moving average is so close to turning negative but it hasn't yet in the weekly charts I have to wait till Friday and the same thing in the QQQ turned down sharply but the nine period moving average is still above the 14 in the weekly chart all the daily charts so in sell nodes but I'm just starting to get sell signals in the weekly chart so I must say this is a period fraught with things that are we don't have everything coming together we don't think back how many times have we had the dollars screaming to recovery highs the bonds going to lower lows crude oil holding very nicely in the upper range so I think there and then strikes they're talking about strikes so there are a lot of things there that that could make one pretty nervous no doubt Basil you have a great one safe one we look forward to show tomorrow thank you man thank you don't you too stay right there folks come right back