 Welcome back folks. We have the now industrials right now up 52 Nasdaq's up 32 S&P's are up eight. Let's go over to our man. Mr. Basil Chapman as we do each and every Tuesday and Thursday at 20 past the hour and don't forget folks basil as an outstanding show here every trading day 12 to 1 Eastern standard time also is a great newsletter the opening call the way you get the opening call You come over to our website at TFNN You're gonna go right under newsletters the opening call right on the right-hand side. You hit the opening call You hit subscribe you can get the opening call for one month Six months our year. They all come with a 30-day money back guarantee folks great Newsletters great radio program each and every day check it out right at TFNN How's the channel? What's going on? Well, just starting to get used to the fact that it's getting cold weather again So that's the way it is cold weather and it's 80 days. See we're loving it now now. It's 81 degrees here This is like this is this is your perfect weather, right? This is it from now until May. It's like oh my god They can't believe it and this we needed this break now. It was interesting Basil last year We really didn't get a good break until December and that's like way too long meaning the 85 to 88 But it's 81. It's gonna be 79 next week So it's just like it makes a difference when you guys you guys got to get a little cold and then we do too You know, so it's interesting how it works Enjoy the weather. Yes Come on down man. Come on down Bring that tennis rocket totally. Oh, yeah, right Okay, I probably be the last outdoor tennis that I'll be having for quite a while So we're looking at the Dow does a 54 right now 27,056 so there are patterns that we talk about when we last spoke I said for the subscribers to my opening call we started to raise some cash because We're looking at a kind of a sideways very mixed market very selective with a lot of stocks That should be doing well, then I really not doing they rather spoke about the fang stocks that's Facebook, Apple, Amazon, Netflix and Google Alphabet and Only alphabet been close to it's all-time high. So this is what we actually went to an all-time high But the others are really lagging. So we were all long right now in the Dow We're anticipating let me just do this so I can show the pattern that we're always looking for here in the Chapman wave We're always looking for the lowest most Identifiable low bar and then you matter. It's merely start account of each successively higher peak Alphabetize them they can go all the way to a G But the fourth highest peak peak D is where other things can happen And we've seen how many times that occurs where we get a really sharp sell-off at that peak D Or we could recycle up and the patterns. I'm looking at just straight down straight up or the arch pattern The cup pattern or you can get a combination. That is like that lowercase h or the reverse y Now, why do I show those patterns because look look what's happening right here? We got that peak D doji candle on the That was a 12th of September 27,000 three or six come plunging down to the 25,743 level we were very fortunate to be short there We we actually now long waiting for this leg D So I just said that when you get to that peak C in a Chapman wave buy signal to buy mode Once you go to a buy mode it implies that you should get at least four higher peaks Well, we missed it by nine points a 27,120 was the high on the that was just three days on the 15th Today's highest twenty seven thousand one hundred and twelve So that's one in twelve. Yeah, so we just need nine points to make that leg D Now why don't make a big deal about it is because the mag D the moving average convergence divergence is good Sycastic is good at 88% But I haven't really seen real strength in the in the Dow So when I get to this leg D I'm really watching it closely because as I as you saw right here on the left side We saw this in July and we saw this in September at that peak D We started to pull back very sharply But the big deal is that I was waiting for the S&P which has gone to a leg D today I was waiting for the QQQ Right here. It's in leg D and it's because of IBM which IBM took quite a hit today It's down. Oh my it's even worse. It's minus eight at 134 And there's your peak D right there on the on the first of October It goes to 147.35 fourth highest peak and look at that sharp sell-off and the weekly is at a D so I'm anticipating that This kind of corrective move that we've been in even though it's on the way up is really a continuation Let me just go back to the Dow to show It's really a continuation of the sideways trading range and the technique that I use called the Chapman wave inside track repellent zone and we're right here in the weekly charts that they can take you all the way to about 27,000 180 if you see a truth if the Dow starts to break above 27,306 that's going to be very good because it'll be the first time that we're breaking this resistance level So we'll remain along on the Dow We might start to take a little bit off after we get that leg D That's how we playing it But also you remember I spoke to you that we've been a long bank of America for quite some time here again You got that peak D around number 30 open on the 13th of September 30 point 32 was the high that day pulls back sharply to a trendline support of 27 16 and now it's in legs C probably a peak C today at 37 to 2 I think it will go to a D here again You're looking at that weekly chart with that resistance inside track repellent zone. So it's going to be very important We're in from the 24 area here. It is at 30 so it's doing very nicely and We've spoken about the dollar for ages and I said you I'm getting a little Cautious because we've got all these D's and the daily the weekly and and the monthly I think that the dollar could have one of the deeper pullbacks I think that's going to unfold and you can see we've gone from 99 46 on the 1st of October at peak D We write down to the 97 63 almost at the 200 period moving average and the weekly chart has made a peak D So this is in a cell mode The week the monthly chart is still in a buy mode and that's still very good But it's in leg D. So I'm watching that closely. But to go with that. I've been saying to subscribers We've been we were at one point very positive on it on a And I did visit an ETN. This is ready Playing the grains because the grains were looking very good and we did very nicely then we were out of it But now we're back in because look at wheat we just had look at this big move in wheat It's just broken out again. Look at soybeans So that's the reason and he has a peak E But it's holding very nicely and you've got corn also holding very nicely off the very big move So my suspicion is that because of the weakness in the dollar maybe now we can see some kind of a rally in the grains that actually impacts the the composite ETN that I that we have that we back long and I think that we're looking at something a little different. I said last week I think we're in for some kind of a change because if you look at the euro This is probably one of the better moves we've seen in the euro on a technical basis Price wise has done this before but on technical basis. This is a little bit better than we've seen before So I think this is a countertrend rally in the euro And I think the dollar is going to continue digesting its gains for a while Then I think the dollar actually comes back strong. So that's that's not the outlook that we have I think that This is where we've got to be looking very carefully at the SMH's there The earnings reports coming up very soon with the semiconductors. They're at all-time highs. Do they hold do they break out? What do they do a lot of clues a lot of very mixed market be playing it as a mixed market and folks We'll easily get battles news that I come over our website at TFNN You're gonna go into it newsletters You'll see it for a month one hundred twenty eight dollars six months five ninety five a year for nine ninety five 30-day running back guarantee those of a great one safe one real for the show tomorrow. Thank you very much. Thank you