 Let's get over to our man Mr. Basil Chapman as we do each and every Tuesday at 20 past the hour. And don't forget folks, Basil does an outstanding 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 folks, come over to our website at TFNN. You're going to go into newsletters, you're going to see it right on the left hand side. You just hit that button, you can get the opening call for one month for $149. You 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%. Now they all come with a 30-day money back guarantee folks, okay? So you're going to get a great newsletter, Basil has about 12 archives on there, you're going to understand how Basil looks in the market every day and you're going to be able to ride that wave. Basil Chapman, what's going on? Hi, Tom, how are you? I'm doing great, man, yourself? Very good, thank you. I guess you didn't know your name's Tim Ord, huh? I don't believe I did that. Wait a minute, is this Tuesday? No, exactly, I thought it was Thursday, I know, so trust me, I love it. So what's happening in this market, Basil? So I'll tell you something that's, to me, this is a really big challenge for a couple of reasons. One is, for subscribers, we've not shorted the down for quite some time, been long, we've enjoyed it, we have our core positions from this past October, plus the one going all the way back to 2020, so there's a core position, we've traded around it, but we did take a short position a couple of days ago, so far that's held, but I'll explain what I'm looking at here. So for some time, I'd say for, since May, in fact, I'll show you this chart right now, I use one particular indicator, the 914, it's a nine-period moving average over the 14, it goes green, and under it goes pink, and I call it the, you know, like the Federal Reserve is the Bank of Last Resort, so I call this the indicator of last resort, when everything else is giving yourself signals, if this is holding strong, you've got to have the patience, so in a way, I didn't have the patience, I used some other technique to start the short position, but this here, the gray line, the thick gray line, is the price of the Dow, the green line is 9-period moving average, the black line is a 14-period moving average, I'll give you some of this in my show tomorrow, I did it to Dow, I'll do it again tomorrow, because it's going to be really important, and Thursday we'll see what happens, but look, there's one little S right there, and that says to short, and when it's out, it means to go long, and if you look at this, this is way back, I showed this as a daily Dow chart, 5, 3, 23, it's the third of May, at 33,684, the Dow is a thick gray line, 90 in May is the green or pink, that means if it goes over the black line, the 14-period moving average, it changes color on the upside to green, on the downside to pink, so it changed because there was a very sharp pullback, yes, the price of the Dow, and I was saying, look at the way there was a deterioration in the distance between the green and the black period moving average right there in April, going into May, and that there was a sharp pullback, would there be a pink change, well there was a pink change, when we did this, as we were coming into this area right here into July, there was another sharp decline, but the strength of this 9-period moving average said, I'm not changing to pink yet, even though it looked like it was absolutely about to do it, it didn't do that, it went green, and here's the price of the Dow, it's still very well above the 9, and the 9 is above 14, so in that sense, the other technique that I used, using unbalanced volume and some other things, was premature based on this reading, and if you look at the S&P, this is going to the S&P, same technique, just making this a thick gray line, this is the price of the closing price of the S&P, and here's the green line, here's the black line, it's a lot closer, but it only went negative in May, the Dow made it negative for quite a bit, look this went for one day, and then it switched to green, look at the QQQ, same thing, one day, and look it's getting closer and closer, if in fact the QQQ index 100 trading vehicle starts to trade below, it would probably have to go down to 371, it's a 370, now probably even lower than that, for that green line to go pink, but it's getting closer and closer, but you can't, you shouldn't presuppose that it's going to happen, you've got to wait for it to actually happen, so I've kind of jumped the gun a little bit, we'll see what happens over the next day or two, but that's the way I'm looking at this, so I thought I'd just demonstrate, I like to show things that work out well, I like to show things that are, where I've gone against my actual technique, and then sometimes I use a combination of techniques, but this is the one that says, I'll go back to the Dow right now, the Dow is up at 63 points at this stage, and you can see, to get that gray line to come all the way down, to change that light green, nine-speed moving average to close under the pink, under the black to go pink, you'd probably have to go to 34,500, 34,200, so I talk about something else very often, and then let me just get out of this, I want to show you something else. I talk about the dark news cloud cover, and I've had webinars, I've discussed this many times, and what I say is that most of the time there is bad news sitting out there, but the market just ignores it, and then the same news on another day could be really important, so I called this back in November of 2022, I said there's a dark news cloud cover, and it's going to be resistance, but I had small little squares, I just made this one very long one to say, hey, I think now we're getting closer to maybe taking out that high, the 34,712 higher back in December of 2022, and now we've gone above it for a number of bars, this is a daily chart, 1, 2, 3, 4, 5, 6 bars now, we're above that resistance, so that says to me are we really looking at all the negatives out there sort of dissipating, and now this is a great support area instead of a resistance area, so those are the things that I'm going to be tackling over the next coming, in the coming weeks, because what we're looking at is some of the stocks that have been really fantastic are now starting to stall, and some of the stocks that were just horrible, like a triple M, has suddenly come alive, or even the XLF, so this is a, I usually talk about a bifurcated market, this is like a tri or quadruple focated market, because there are now so many sectors that are doing different things, so I've got my prices that I'm looking at, and we've built up a little cash position here, because I think there's going to be some, for instance, the artificial intelligence area, some weaknesses crept in, we've had some stock that have done really well, waiting for them to pull back a little more, so we can add back some that we've taken off, so this is a fascinating period just in terms of looking at the structure of the market, and all those, it's like a chessboard looking at all these different moves that are going on, but what I always like to say is that if there is one, if there is an area that can take over what was strength as weakness comes into the strong stocks, and the weak stocks can start to move up, that gives you a nice counterbalance, so I don't see any major sell-off right here, I don't see that, I do see the signs of some kind of a sudden sell-off, and it could be a bit inspired, we'll see what happens, so parameters are clear, I'll go through them again in my show at 10 o'clock tomorrow morning. And folks, it's very easy to get Basel's newsletter, come over to our website at TFN, you're going to go into the newsletters, you're going to see it right on the right-hand side, they're opening call, and then you are off to the races. Basel, you have a great night, a safe night, and of course we look forward to show you tomorrow morning. Thank you very much, Tommy. Thank you, stay right there folks, you're coming right back.