 I'm going to switch gears on you folks out here, it's a beautiful thing. And I'm Matt and Mr. Bowser Chapman, folks, don't forget, every trading day, he's a great show, 10 to 11 Eastern Standard Time, better yet, though, on Fed Day, May 3rd, this coming Wednesday, 4 to 530 Eastern Standard Time, Bowser's going to do an opening call webinar, subscribe a webinar. Bottom line is that you can be a subscriber very easy by coming over to our website at TFNN, you'd sign up for his newsletter first, it comes with a 30-day money-back guarantee, you get the newsletter, you're going to get some great information for a full month, and you also come into the webinar. Bottom line, if the newsletter doesn't work for you on the 29th day, you can cancel the newsletter, and you're still going to get a great education. Basil Chapman, what's going on? Well, this is a very, I think it's an important week because I've got a number of indicators that I use, and the whole thing about this webinar on Wednesday is it's going to be like a workshop, I'm going to make it a very functional working webinar so that you can take home a lot of information that you can practice and stuff that I do all the time. I can show you, this is the chart of the doubt, we're always looking for a PD, that's where we get a bit cautious, that's actually where within two days of that, the SPI, the S&P made a top at that right here, let me just show you this chart, because there's all the stuff that I'll be talking about now, of course I always have trouble clicking on there it is, the S&P coming up, there it is. So I always look at this and I say, okay, there's a technique that I like to use, a long time ago when I used to hand chart with engineering paper and pencil and a ruler to eventually get a 15 inch ruler because the market was going up so sharp, it was way back a couple of decades ago before everything went on to computers, well I found that trend lines became really important and over the years I added to that, I made a refinement of that, instead of doing one line, a trend line, I make a little mini channel, just like a three sixteenths of an inch, if it's going up, I make the top line green and the bottom line red and what happens so often, I mean I show this, these charts it doesn't matter what it is, you'll always find that there's some charts that makes outer wicks or the outer level of the candle where you can join the line, of course you need at least two lines, I prefer if you can get three and as the price gets to that it either breaks out or it gets repelled, well look how many times from that peak D, the S&P at 41 in the 41 40 area gets repelled at that peak D, but then it becomes an important line, look how many times in the S&P it popped up and then what it did, it made a peak F, we actually went short the very next day, we took profits in that and I got taken out of our last position for that, that one was a smaller loss than the others because I wanted to keep it as long as possible and then of course everything turned around Thursday and then moved up Friday and now look what's happened, it's stalled where, it's stalled right and these are just two trend lines, it's nothing complicated, everybody on every platform has a trend line that they can draw and here it is, into the red line hasn't broken the green line but in the traveling methodology there's never an H, when you get to a G you have to assess it and here I have to say hey wait a minute, is this a G which says oh be really careful because that's the end of the line or is this a brand new A, if it's an A you say are you kidding every single pullback I want to buy but I like to go one step at a time and then I look at the technical indicators and I say wait a minute, I've been speaking to you for about three or four weeks now saying the nine-period moving average above the 14-period moving average as the green line above the black line has been so strong and if I go back to the Dow there's a daily chart on the left, the same thing with the Dow so what I said to subscribers I think it was on Thursday, I said look here's a pattern I'm going to show you in great detail and I'll just go to this one behind it, I'll get this away we'll come back to this in a moment and I showed them this chart here and I said look I drew in these rectangles I said look what happens when the nine-period moving average is the daily chart I made it just a single line thick gray line for the Dow price itself but the green is the nine-period moving average and the black is the 14 I said look what happens when the green is still strong above the 14 you can still go to an extra spike to the upside then you've got to be careful it did the same thing spiked up there and that was on the downside so the pink said hey I'm turning green I'm way above below the black line so that's very negative so the nine-14 crossover right here was still very negative and then it turned around and you got a crossover in the nine it went positive and we ran up and now we've got this is this is Wednesday this is Thursday I'm saying this yeah Thursday and then Friday extends even higher now we've stalled so now what I want to and this is what I'll be going through a lot of charts to show this this one technique I've got so many others I'll be doing as well but this moving average the nine-period moving average can then make an M shape pattern this is where you've got to be careful that's what happened over there went to an M pattern so right here is where I'd be a little bit cautious because I think we've gotten overextended there was a lot of buying upon buying because there was short covering and then of course the good news with Microsoft and Meta so we've had this extension to the upside but not everything's participating the semiconductors are still very weak and I like to use that as kind of a benchmark for the market there are a lot of things going you spoke about the dollar let me just show you the dollar why we're looking at that and so in other words we've got the resistance you can see on the left side we've got the resistance right then the inside track repellent zone of the Dow in leg e you've got the s and p right here in leg g slash a I'm thinking it's more like a gene it's going to need a bit of a breather here and then when you talk about the dollar which very often when the dollar starts to move it has this counterpoint where gold can pull back but very often the market tends to it doesn't have to break down but it tends to struggle to the upside and more likely comes down so the dollar is at a critical point because it's the Magde's turned up the casting is still quite weak but 9 beer moving average has a lot to go so this is I'll also be watching that but I want to want you to say for my subscribers and the reason why this is such an important webinar is we are still long the Dow from in the Dow the diamonds as well as the UDOW three times long Dow from the October low so we've had trading positions on the upside for quite some time now we've sort of stepped back we had that short position we've taken we've taken that off and I'm looking at this and I'm saying okay I'm waiting for a pullback to be able to put those positions back on we also have a dividend stock I like to have something that tends to look like it's got capital gain what's the use of having a dividend stock if it drops 15 points so 15 percent so I like to have a dividend stock that has a chance to give capital gains as well as a dividend we've got one that comes after the dividend on the 5th of May we'll see if that's still holding holding quite nicely here we've got a speculative stock a stock that ran up about 30 percent this pullback today we added a little bit that we had taken off we added back today so far that part's up quite nicely so I'm really trying to get a smorgasbord of different positions for subscribers for the next few months to come and I think that this is a great time to be looking at that we've got all our techniques that we put into place you can see the wedge going to the upside it shows you very clearly where the support is I don't think it'd be a smash to the downside but I think what the Fed does on Wednesday I mean it's going to be very important that the market right at this moment is a little bit vulnerable even that's out of spec back in the news so we'll be closing our website at TFNN you hit the news you're right on the front page you're going to hit Basil's opening call and you can get into the webinar Basil have a great one and a safe one we look forward to