 Welcome back folks, we have the Dow Industries up to $65, Nasdaq up to $104, S&P's up to $47. Let's go over to our Amazon Basel Chapman as we do each and every Tuesday at 20 past the first hour. Don't forget folks, Basel has an outstanding show here. Every trading day, 12 to 1 Eastern Standard Time also is a great newsletter, the opening call. Now the way you get the opening call, come over to our website at TFNN, you're going to see it right under featured content. The opening call by Mr. Basel Chapman. You hit that opening call right there, you hit subscribe and you can get the opening call for one month for $128. You get it for six months for $595 which is a savings of $173 or 23, 22% off or you can get it for a full year for $995 that's a savings of $541 or 35% off. They all folks come back, come with a 30 day money back guarantee, you have nothing to lose, everything to gain. Basel Chapman, what's going on? Hi Tom, how are you doing? I'm doing great man. And Basel, thank you so much for all the help, I really appreciate it man. It's a beautiful thing. My pleasure. Totally. So, you know, and Basel would know this folks, okay, if you've been listening a long time you'd know this, it's so crazy. When I take a day off, for some reason, right, the markets can go ballistic, isn't that funny Basel? Yes, unbelievable. I've been closing off for it all these guys, I mean, it's just crazy, right? We used to have an expression, is Tom flying? Exactly. It's so true folks, it's like, oh my God, and you know, when I saw it overnight I said, were you able to see it the way you wanted it, did you actually see something? I was, I was, yeah, I could see it, it was like, and I was actually saying, oh my God, and in both cases folks, what would end up happening, most of the time I think we were talking about really the gold market going to the moon or the stock market going to hell and a handbag, right? And it was like, I got both of them yesterday, I says, oh my God, crazy. That was a good day for you, yeah. Crazy. So, I'm looking at your shots. Right, so we've got the down, the left, that's the daily chart, and the middle is the weekly chart, and on the right is the monthly, and most of the charts kind of look like this of the major indices. And you might recall that I'd spoken to you about quite a few weeks ago, I said that back in the 16th of July, for subscribers, we had gone short, the down, we started short position, we then added to it, that was seven points of the all-time high, 27,398 was a high, I said, start shorting above 27,391. So this is going to be very interesting because you see this pattern, let me just show this here so that folks who don't know my work can get a sense of what I look at. I did identify the market as having three actions. One is sharp, single line, up and down. Okay. Or you can have an arch formation, you can have a cup formation. Or you could put the three things together, which gives you what I call a lower case H, I made it red because if the left side low is taken out, you can get quite a bit lower. And on the right, if the left side high is taken out, you can go high, that's the green line. Interesting. Okay. The concept initially started years ago when I used to hand chart on graph paper. Yeah. And I found that when I got to this fourth highest peak labeled A, B, C was the third peak, fourth was the peak D, that's where other things could happen. That's where the market could either recycle and go much higher, or that's where you could get your sharpest decline. It can go to E, F and G, like on a piano, you've got your A, B, C, E, F, G, but there's no H, it's the same thing here. And so it's real simple, straight line, arch, cup, and four peaks. You can go higher, but the four peaks is really the core to the methodology. Well, here we got, not only that, did we get the peak D at 27,398. We also got two little tiny doji candles. I call the one on the left, the silent doji, the one right there, they're all time high. Look at that. Tiny little candle. Amazing. It's like when you're throwing a ball up and it reaches zero momentum. It's not going up, it's not going down. It's about to turn around and come down. And that's why I always look for these tiny little candles. When it went sideways, I also explained I had a whole bunch of shows and my target technicians are at noon. I had a whole bunch of shows. I hope there's the chart. No, there's not the chart. Let me just find it because it's really a fascinating chart. I think this is the one right here. Too many charts. All right, I'll find it in a moment. I have it, I think, okay, this is the chart right here. So I have a chart that basically shows how you've got resistance points automated in the Chapman wave methodology. And you can see there's a whole bunch of resistance levels of the 27,296 right up to 27,474. And then there was a support of 27,022, which of course we went right through. Then you can see this orange line. Another technique I use is the 200 period exponential moving average. So putting those things together, I also explained how, I spent a lot of shows explaining how when we got the top where we actually shorted there as well back in April, the 22nd, the high was the 23rd. The moving averages were crossing negative, but it took seven sessions before the moving average, the MACD, but it took seven sessions before the nine period moving average crossed negative below the 14 period moving average. And then we've got to be prepared in the Dow for a sideways move before we break down. So the whole thing was very methodical. And what was very interesting is that the Dow took its top and took a while. The S&P had one sudden lunge up and also made an alternative count and then went to a peak. Yet it's high on the 16th of July. And that was at 3027. But look what happened. This is a single leg down in the S&P. So the Dow had a couple of troughs. We call them troughs on the bottom of the T-shaped bottom. This went straight down to 2822, almost a 7% correction in one single move. So you've got to expect that there's going to be some kind of a bounce. Not only that here as well, the orange trend line of the 200 period moving averages, key support. So these are things I discussed in my newsletter, which subscribers would get every single day. Here's the daily show exactly what we're looking at. Here's my comments at the end. I said today, if the futures remain strong, a bounce to Dow plus 170s or more must hold through 2 p.m. Eastern time to last strong into the close. Where are we now? We're up 276. So I give guidelines every single day. So it's a really comprehensive newsletter. And as I said, we've been short. We took a little at this morning. I said, let's take a little more profit off that our short position. And we have been stuck out on the long side of our longer positions with some nice gains. But I'm looking, I'm actually starting to look now at positions we want to get back into because I think a big chunk of the move to the downside has been done. Now I call this, if you think of an earthquake that has an aftershock, I like to say internal low. There's a chance you could be followed by a residual low and that comes later. So this 200 period moving average now could be a little bounce of period. We could make an arch formation. How we come back and test is going to be really important because in a couple of days, there are so many stocks that got really oversold. I mean, you look at some of these things. I mean, even look at an Amazon, which has been one of the leaders. Look at this move from 2035, the most recent high down to yesterday's low of 1750 was a, yeah, 1748. That loves to move like that, I know. Right. So I always looking at weekly charts and that's the big thing that concerns me right here because almost all the weekly charts have gone to the letter D or E and that says to me, you've got to be somewhat careful here. I think now we could be using up more time, maybe than price, but I think we've got to, I'm waiting for this Friday because that tells me certainly on the down the S and P whether this trendline resistance is enough. You can see the support we testing right now. So it's a very important week coming up and folks, the way you get back to the newsletter. Move to our website at TFNN. You're going to go right on the front page. You're going to end the future content. You're going to see the opening call. Hit that subscribe button. You have a great one. Safe one. Of course, we look forward to show tomorrow. Thank you, Tom. You too. Thank you. Stay right there, folks. Come right back.