 This is a phenomenal newsletter. Okay, it's thorough. I say it all the time. I love it. Bunch of subscriber-only webinars. You get access to all of those. All the time that we have them backed up on. Most recent one was December 20th. Maybe we should talk about having something soon. But we have Basil Chapman on right now. Basil, are you with us? I certainly am, Jacob. How are you? I'm doing well. How are you doing, Basil? I'm very well. Thank you. Good. What are we taking a look at today? You know, I was talking about still dynamics a little bit. You're saying it's part of the rotational market. I, you know, obviously I know you have a lot to talk about, but I would like at some point to hear your kind of thoughts on that rotational market and kind of what you mean when you say that. Okay, so let me just do this quickly. Sure. This is the Dow chart. We are still a core position along from March of 20. In the Dow, March of 2020. And then added to October of 2022. And we still have those positions on a very short term basis, just as kind of protection. We did take a small short position in the Dow. Got a very tight stop. And one of the reasons is we've come to a point here. This is the Ford. You can see this middle chart. So on the left is the daily chart of the Dow. The middle chart is the weekly and on the right, these are all my charts. When I show them, I show you daddy on the left. Middle is the weekly on the right is the monthly chart. Monthly chart is still very bullish in the Chapman week methodology. If you identify a low and it gets upgraded from a bi-signal to a bi-mode, the implication is it should go to at least a D. That means that the monthly chart to make a peak D, you've got to go for at least three months. That's number one with higher highs. That is in the weekly chart. If this is the 14th week and this is still only a, it means to get a D. We have a minimum. It's called, I originally called this technique the seven wave form because it gets you to the seventh wave in leg D. But actually over the decades, I've found that it doesn't work quite that way. It can get a little more complex because that D, other things can happen. But if this is only a, even if we had a pullback very sharply, it would say that you can't make a peak D until at least another six weeks to seven weeks. That's if every single week there's a higher high and the next week there's a lower high. So that's very bullish. But that doesn't mean to say the short term can't see a sharp pullback. So within that context, the Dow is still positive. And as I say, we have just got kind of a protective stop. But we're looking at today, Microsoft comes out with earnings. We had General Motors, that was good. We had Microsoft coming out off to the bell, Google and advanced micro devices. So when I talk about the chance of a rotational market, it means that sometimes when the market is very strong and you've had leadership, let's just say Microsoft, which is trading at 408 today, it was up in the 412 area. We're still long for subscribers from the 338 level. Let's just say it pulls back really sharply. Google for some reason says something that's a little negative and it pulls back very sharply. It means that at this particular point, you can start to see areas like the SLX, which is the select Vannick Vector Steel ETF start to move higher. And you mentioned STLD. That is Steel Dynamics, Steel Products, Hot Rolls and Cold Finish Steel. Very nice. It wasn't. And that's the other thing I wanted to mention. Stocks on one day can look quite poor. And that wasn't looking very good. It looked like head and shoulders from the top. And all of a sudden it reverses and you've got this huge move of 4.5%. So that's what I'm talking about. I'm watching the oil service sector. I'm watching other things because what I've tried to do with my newsletter is I've tried to get a whole range of sectors. Stocks in sectors or the sectors themselves. I've also tried to get stocks that are in completely different price ranges. For instance, we have a single digit stock that we bought in the threes and is now up in the sevens. We've got a financial stock. We've got Bank of America, which just today broke out nicely from the recent high. It's doing very nicely. So that rotation is important. So just to get to your question about this rotation aspect, let's just say it's the other way around. Google comes out. I think Microsoft might be first and then Google, whatever it is this afternoon, are fantastic blowout earnings. We can have one of the most amazing sessions tomorrow. We just don't know because we're on the cusp. It's been since the late October law. We've had November, December, and all of January up until now where it's just been higher highs and basically higher lows. So I think on a shorter term basis, just purely on my technicals, we started to get overboard. But the market doesn't know that. Remember, the market doesn't know what we're looking at. It just does what it has to do. So we're trying to interpret it. So in that regard, I think it's kind of important what I've tried to do for subscribers is we're in different areas. Quite a few of them are kind of under the radar. And I think that's very important right now because it says that there's a chance that if you get some kind of a, just a normal pullback, which we haven't really had, you just saw the Dow chart. Let me go there again to show you that weekly chart. That is amazing. 14 weeks, essentially except for those three sideways weeks, we've been higher highs and higher lows. Just looking at it visually and saying, oh, this should pull back. But the market doesn't know that. What I'd be looking at is if the Dow breaks under 37,000 anytime in February, then the consolidation should become a little bit deeper and maybe a little bit longer. But right now, we are looking at higher highs and high lows. And that rotational sector is very important. And you would want to see the same thing in the IW. Really, it just cannot get any grip on any, it gets no traction. Every time it rallies, it stalls out. So we want to see a rotation taking all the different sectors. And so far, you've had the Magnificent 7 or Magnificent 6. And there is a broadening out. And if you look at the semiconductors, the SMHs, that's going to be important because advanced micro gives earnings today. But it hasn't made for four days since the high of 195.90. It's kind of stalled. So I think we have a lot of clues that we can look for if the semiconductors suddenly pull back. And I'm not sure that advanced micro devices with the billions that are coming in from the government to support new industry. I'm not sure that anything will happen over the short term. So I think we've got to look at this and say, let the market tell us. So for me, I've got certain numbers. If they break support levels, then we're going to have a deeper correction. But right now, this rotation is very important. That's why I like to see the financial sector doing well. And I'd like to see the steel because steel is your infrastructure. That's really important. Absolutely. And you're not putting words in your mouth or anything, but I think you'd mention something with Tom with semiconductors. Like, looking at that is really now one of the really good indicators of where this market is going to go. And we just had reports from Supermicro. And Supermicro just does management softwares. OK, so this is almost like derivative of these microchips, right? And Supermicro is doing phenomenally. So this whole industry surrounding the chips or the semiconductors are so massive. But yeah. Because the semiconductor chips are oil of the 1900s and 2000s. Now you've got semiconductor chips that are in everything. They're as important as oil used to be. Basil, thank you so much as always. Have a great rest of your day, OK? Thank you very much. Take care now. Bye. Have a good day, James. We'll be right back.