 man Mr. Basel Chapman as we do each and every Tuesday and don't forget folks Basel doesn't outstanding show here every trading day 10 to 11 Eastern standard time also great newsletter the opening call now it's very easy to get the opening call as you're over to our website at TFNN folks you're gonna see it right under featured content you hit that button you hit the opening call you get the opening call for one month for $149 you get it for six months for 6.95 which is a savings of $199 or 22% and you can get it for a year for 11.95 which is a savings of $593 or 33% now they all come folks you get get them for a month get you know can get them for a year if you're happy in the month great you're gonna continue to get charged if you're not for some reason you get your money back so it's a great value Basel has approximately 11 webinars that are there already so you really understand how the market runs how the Chapman wave runs great service Basel Chapman what's going on well 24 hours ago things are very different in the market boy I'll tell you thanks for doing my program Basel I really appreciate it man my pleasure thank you for asking me yeah no I saw those numbers yesterday and then I was looking at the market today says man this is gonna be a trip just in general I mean I I figured it was gonna be a sideways to down market but they're giving it to the market in a big way there's no doubt man yeah well the market attempted this morning to rally and then when the Fed one of the Fed governors came in as the judge right yeah and that and that I think well let me just show you something quickly because this is all the stuff that I'll be talking about in my webinar coming up a week yes and so I have a chart that I show subscribers for decades I've been showing this is I called my triple yield weekly chart this is on the left this is the white is the ten sorry this is the 30 year TYX 30 year T bond yield this is the white one the brown one is the TNX which is the 10 year T note yield and the cyan light blue one is the 5 year FVX 5 year T note yield and look the 5 is above the 30 and the 10 oh yeah I went back to try to find that when we when we made the top back in November of 2018 before the Fed started talking about higher rates look what happened we didn't get a crossover like that we didn't get that and when I go back to even the 2000 and the financial disaster of 2007 8 and 9 look on June the 7th June of 2007 we didn't have they were very close but we didn't get that overlap yes the cyan went above the that's the 5 year went over the 10 but not over the 30 so this is something that I don't recall seeing for a very very long time so I have to take it seriously in the sense that it has market repercussions that's number one and number two is if you look at this right side chart this is the wood the ice shares global timber and forestry ETF stuck in a rectangle formation I'm gonna be talking about the rectangle formation the narrow long rectangle formation what happens when it goes at at a high there's this horizontal channel and if it breaks to the upside and then comes back down then breaks the downside what does it do well this is stuck in the middle so so far that same internationally the timber forestry ETF is still doing well but look what happened to the HGX which is the Philadelphia housing index in this long channel and it broke to the downside and it couldn't break the upside so that's all part of what I'm going to be discussing and these are all relevant to what we're looking at in the market so let me just go through some of the things I heard you're talking about now I'll I'll look at it in in my own Chapman wave methodology this is what we'll be discussing in my webinar so I talk about rectangle formations can last a lot longer than your patience yes so there's a very wide rectangle and then there's a narrow rectangle this is kind of a mix of the dollar and subscribers have been along the dollar since April of 2018 we watched it go all the way from about 90 it went all the way to about 103 pulls back and now it's still holding very well and this to me has been kind of an icon of the American economy internationally where funds have gone into the currency that they thought had the most vigor and so far that's the dollar but I talk about it and saying that a channel can look very deceiving because as it goes to the top of the channel you think oh now it's going to break out and then it suddenly turns around and goes to the bottom and we've had these double bottoms and double tops I was there oh there's another one I want to show just we have saying yeah I'm talking about I'm doing about what I'll be discussing in my webinar because here is going to be very important the dollar is at 99.47 yeah and the last I was 99.42 so even though it's broken it by five cents it has broken the previous high will this be a change in the scenario that all of a sudden it does break to the upside or does it do like let me show you another channel that went sideways for a long time this is the Russell 2000 it went sideways between look at this is the weekly chart between 234 and 207 four months it went sideways and it finally broke out into a peak D that fourth highest peak I always talk about to 244 46 and then it went right through the base of the channel to the bottom so these channels that the why that one you just did is what was that a daily or a weekly or monthly this is a weekly chart okay okay cool cool so I'm sure but let's talk about also so the the webinar is going to be october 13th right yes from four to five thirty right yes and it's very easy to get in this folks okay the bottom line just come over to our website the open calls right on the front page of the future content you hit that if you're a subscriber you're going to get a great newsletter and you're going to get a great a great webinar okay I didn't mean to interrupt you but I just want people to understand how quick they can get into that do you know what I mean yes so I I'm trying to you help me articulate what I'll be showing so a pattern that I've been looking at is just this is one of the many many patterns you had been speaking about gold so I spoke about this rectangle formation if it's a wide rectangle formation then the pattern that I always talk about is that from the bottom if this starts to make higher highs and higher lows after a big spiral to an up move it's like a flagpole and it comes down the flagpole then the rule of thumb that I have is that the price can go to just under right on or just above the previous high well this is the gdx and the high of the eighth of march was 40.26 it falls sharply down to 3567 starts to move within the rectangle that I've been talking about and lo and behold today goes to legd and what is the price 39.88 it is less than 30 cents away from the previous high so and it's in legdd's where we're always looking to see all right what's going to happen next so it doesn't mean to say it has to crash anything it just says yeah right here is some vulnerability within the rectangle formation so the gds can remain digesting these huge gains that it's had for months just going sideways so I just wanted to explain how we can look at it and here's another thing that is fascinating look at the lows 28.83 was the low the week of the first of october in the gdx it runs up to the 30 four and a half area comes back down to what 28.87 four cents higher and then it starts to move to this double top so it's very interesting this is a double bottom it's the same principle so these are the techniques I'm going to be showing and it applies to all the all the charts that we're looking at we've been raising cash we raised a little more cash over the last two days and folks it's very easy you guys just get the opening call plus you'll be in the workshop just come over to our website at tfnn go into featured content hit that button and you are riding that wave thanks basil have a great one look forward to show tomorrow thank you you too