 What's up, 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, there'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 TFN, you're going to see it right under featured content, the opening call. You just hit subscribe, the opening call. You can get the opening call for one month for $149, six months for 6.95, which is a savings of 22%. One year for $11.95, which is a savings of $593.33%. Bottom line, great newsletter. Now when you get the opening call, folks, you're going to get about 10 to 11 archives, so you really understand how to ride the wave and ride this market, because this is a trade as market. That's the bottom line. I don't think this, I think this volatility is going to continue. We'll see where this baby shakes out. Basel Chapman, what's going on? Hi, Tom. How are you? I'm doing great, man. Very well. Thank you. Interesting, Mark. You were talking about that pattern that retest the bottom on the left side. Yes. I thought I'd bring up a couple of things. I've been speaking to you for a little while about this pattern that I call the dreaded H, because if that left side, if you come down with a straight line, you make the arch formation, how you come back to test that left side low, I call it the dreaded H, because it looks like an H, is absolutely imperative to monitor. What we're looking at when I say to subscribe to my opening call this morning is that if the dowel is under $33,800 for more than about 40 minutes today, you've got to be very careful. And one of the reasons is, I've been talking about this for a while, here's the sharp move down from the high $36,952 all-time high on the 5th of January. It comes down to $35,639, and you can see there's a little H right there where it fails within three bars, and then it comes down, takes out the support, push it, goes down to $33,150 on the 24th of January. But then what happens is it gets a really sharp rally, and it goes all the way to $35,824, and then it starts that arch formation, and we were monitoring this very closely, because there was a moment where it could have made what I call the lowercase H goes to an M-shaped pad, lowercase M. So it did a little bounce, and then it fails. So I said if it closes under the 200-period moving average, you've got to be very careful. And you can see what happened. Today we went down from the $33,150 lower than the 24th of January. Today we went down to $33,364. So that's really close, but it isn't there. But now have a look at this. You've got the dowel with that H pattern. You've got the S&P with the H pattern. $4222 was $0.62 was alone at the 24th. Has a really good rally to the $45,95 area. Turns around, makes that arch formation, comes down, and today the low was, I think it was $4267. So it is still above it, but you can see the MACDs week, the stochastic week, on balance volumes week, relative strength. All these things that I look at, and the 200-period moving averages now at $4409, that's our strong resistance. And if you look at the weekly chart, there's another H pattern right here. Now if you look at the QQQ, this is unbelievable. $33415 was, this is the NDX100 QQQ investor trustee. So $334.15 was alone at the 24th. It rallies, not like the others, it rallies quite well. It goes to $370.10, turns around, makes that arch formation, and where's the low today? $334.35, $0.20 higher. So each one of these, and if you go to the IWM, I've been saying that the actual daily chart of the IWM is a lot better than the others, but the weekly and monthly charts are not good at all. So I want you to show you, look at this example that I've got. The IWM is intriguing, isn't it, Basil? Because, you know, it's what has happened, folks. That was the first one down, but it's really not getting the selling, which is pretty cool. And it's not, so I'm looking at, so we've been raising, we've raised one of the highest cash positions we've had in a long time. And I think what I've been saying is that we don't have to be in a rush to buy, but there are going to be some fantastic stocks that are just really good stocks that have been decimated because of the selling pressure in the group. And that's what we're trying to isolate. So look at this, the S&P, the 10-minute e-mini went to $4260 at about 3 o'clock this morning. And at this huge rally, remember the fourth highest peak, peak D is where I always get a little bit careful. So it goes to a peak D at about 6 o'clock and it runs up to the 43, I call it 43, I'll give you the exact price. It goes to 43.50. And then it pulls back and goes sideways. And you can see this 200-period exponential moving average was resistance and it broke out and then it became support, broke under it and went to just too high a peak to 4385.75 and they came down making like this big arch formation, like I was talking about the H, this is just a simple technique of looking at it as an arch. And where did it go to? It went to 4261 point, I think it was 50, yeah, at point 50. And then a point and a half of that left side low. And look at this big, I call it a counter-gen rally. And where did the counter-gen rally stop? At the 200-period moving average. So I'm using the same principle that I've used for years in this pattern that I call the H pattern or the arch formation. And I'm with you, I'm looking at this and I'm saying, under all the other things that we look at, the VIX index, the hysteria in the market based on just regular folks saying, I've had enough, I've just got to get out. I don't think we're quite there, we're real close, but I don't think we're quite there yet. And that says to me 33,150 on the Dow, but I'm going to make it even more intriguing because I don't think that the VIX index is just going to turn around from here. It made a double top today, 3204, that was the high of about six sessions ago. I suspect that before all this is done, if we're going to get at least a decent counter-gen rally that says we've got a little bit of time and some price on our hands, before we come back to do even more testing, I think that volatility index has to scream into the 34 area, maybe even a little higher. On this particular move now, because the Dow is so close to that left side low, maybe this is the one where the VIX doesn't spiral all that high, but I think when we finally make a really good blow, I think those are the things that I'd be looking for. I want to see the VIX really scream and give a wonderful sell signal on the volatility index so that prices can move higher. But if you're looking at some of these stocks that have just been decimated, I mean, look, I haven't looked at it today, but Adobe, this is just an outstanding company and it goes from the 700 level to 441. I mean, this is even Salesforce, which is a leader in the cloud. Salesforce goes from 311 in November, trading right now to 196. So there is something going on here that it's really telling us that money has come out of the tax sector and maybe coming a little bit into value. But more importantly, I think that some of these stocks will at least, even if they just take Salesforce, if it goes from 196 to last Monday's high at about 210, that's already a pretty decent percentage gain. So I think we're ready for some kind of, or getting ready for some kind of a balance, but it'll be a balance at first. And listen, folks, very easy to get Basil's newsletter. Come over to our website at TFN. You're going to see the opening call right and featured content. Basil, you have a great one, safe one. We look forward to show you tomorrow morning. Thank you, Tom. Thank you. Stay right there, folks. You're coming right back.