 Hi man, it's the Basel Chapman as we do each and every Tuesday at 20 past the hour and don't forget folks Basel does an outstanding show here every trading day 10 to 11 eastern standard time Also, it's a great newsletter the opening call now It's very easy to get Basel's newsletter folks You come over to our website at TFNN you hit newsletters You're gonna see it on the right hand side. You just hit the opening call You can get the opening call for one month for $149 and get it for six months for 695 Which is a savings of $199 or 22% and you get it for one full year for 1195 Which is a savings of $593 or 33% and they all come with a 30-day money-back guarantee folks as well As Basel has about 10 to 12 great archives there so you can understand How you ride that wave each and every day as we trade these markets Basel Chapman, what's going on? Hi Tom, how are you? I'm doing good yourself. I'm well. Thank you and this is an interesting moment You were just talking about it. So, you know in my work. I'm always looking for four higher peaks I'll just show this for the moment to give the people who aren't used to it Okay, try to identify the lowest low count each excessively higher Peak yes alphabetize them sequentially ABCDEFG But there's never an H, but it's at D the fourth highest peak that other things can happen So let me show you what we're looking at here In February we made a peak D in the Dow 34,000 G 31 Tumbled down to 31 1429 that was a trough D on the 15th of March and now and as I've been saying I think it's now about three weeks I said I'm anticipating we've got a buy signal Upgraded to a buy mode which says that we should at least get to a D Well yesterday confirmed the peak D because there was a lower high from 34,000 and 82 level that was made three days ago But look how we've just gone sideways and what I've been saying for to do in my show the Tiger technicians are Everyday 10 o'clock to 11 Eastern time and tomorrow. I'll go through this again Is that the nine-period moving average is way over the 14 and the price is way above the 9 and 14 That's number one. Number two is the mag D is still very strong Stochastic is flat. I love a flat stochastic Especially when it's in the 90 percent area and this is 93 percent So that doesn't tell you knows fantastic. You should scream to higher highs He just says you've got a really strong base at this particular time That can change and it will change over time, but right now That's what we're looking at. So and the on balance volume is a little blue line here it's somewhat over overbought and That says we could pull back a little bit But what I am looking at is if I translate this and we've been long for quite so from the lows actually And we still long of the Dow, but most importantly, I'm looking at this weekly charge So if there's a chance that even if it's into into a week We spike above this level here. We can get into the thirty four thousand one hundred thirty four thousand two hundred maybe even the test that thirty four thousand three hundred level again That'll be the first breakout We've gotten from this pattern that I call the inside track repellent line all of a sudden that became That could become a propellent line and for the for two week Well last week at the close and so far this week the green 9-period moving average is a positive over the 14 Okay, the 90 is cross positive and the stochastic still weak at 69 percent So there are some positive signs in the weekly chart and all of this will impact finally impact the monthly chart We've got that same see these two trend lines Resistance if we can break out, that'll be the first time we've broken to the upside. That's important. So At big D. I always say other things can happen So we're a little tentative here to say well got to be a little careful anything can happen right now But with the technical so strong I think there's just enough residual strength to at least attempt to get back into the thirty four thousand So that's the doubt What's also important is We were looking at you know, you and I were looking at the TLT last week you asked me about and I said well It's very interesting because it's stuck in this rectangle So I'll do this again in my show tomorrow morning, but I like to look at rectangles Let me see if I can find it right here. There it is I like to look at rectangles a long rectangle a narrow rectangle as one particular Analysis, but the large rectangle says you can stay in that range for quite a while Just like the narrow one, but unless you're starting to move and break out to the upside You've got to be somewhat careful Thinking that it is going to break to the upside and yeah, we are stuck in the middle and that just says to me I don't think bonds are an issue right now. Yeals are just kind of in the range So to me that takes one thing off the table You were talking about the dollar the dollar and we've been along the dollar actually since 2018 at I think was 1991 and here it is at 101 we've watched it go all the way up to 121 come tumbling down this the stop in the U. U. P. That we had held we went back to a hundred and five Point eight eight in the eighth of March this year and now we've come down So there's a way of looking at it that I think kind of it's been working for a lot of different Instruments that we're looking at and you can see the hundred hundred point eighty two low of the third of February Went up to a hundred and five eighty eight and in exactly the same time frame It came down, but it missed it by three days, but it did go to a hundred Point seventy nine So that means we've got the potential here for a double bottom Just as we had the double top of the hundred and five area Also with the price time match and here it says the I Heard you're talking about the dollar I think the dollar has a chance to bounce a little bit and that could coincide with some market weakness I'm trying to put this all together as almost a package and yet when you think of the fed I'm saying to myself. I would I would not like to be part of the fed right now I don't know how they're analyzing it. For instance, wt Is a wisdom tree ink. This is this is like a fund and look it's done so well It's gone to a leg d the last d saw a big sharp pullback to the 200 p moving average, but here it is at It's almost a yearly. Yeah, it's almost a yearly recovery high So yeah, they're looking at the market Then there's another aspect that I'm looking at hy Which is heist to Yale materials handling this designs engineers manufacturers These are lift trucks. These are trucks basically the building area So I'm off the market parts and here it is at all time high as we speaking It's at an all-time high. Then you've got builders And you probably know a lot more about it than I do builders first source And they are they really very involved in the construction area at new highs So I'm saying to myself. Wow. What what is the fed going to look at? What are they said? They should have for years. They should have been raising yields because if there was a demand for for the bonds They should have been able to just automatically. That's the normal thing. They haven't done that So I think they kind of caught it caught in a in a in a very interesting trap And the other aspect is the db Agricultural fund is saying well In the agricultural area, there's still price increases because look it's trading it There's a very strong leg. We are long this from the 13s. Here it is at 21 30 It's on your legs see in the weekly chart and it's done a really good retracement from the Digestive phase since it hit 2301 back in May. So yes another inflationary aspect So it's going to be interesting to see what the fed does And listen folks, it's very easy to get bousles newsletter. I'm over to our website at tfnn Go to the newsletters. You can see it right now right hand side The opening call you hit that baby. You are off to the races bous. You have a great night A safe night. I'm glad to get a little spring weather. It's talking to my daughter 80 degrees yesterday We're getting there. Thank you and look for the show tomorrow basil. Thank you. Stay right there folks. You're coming right back