 The following is a presentation of TFNN. The TFNN Bull Bear Training Hour. Every training day, live at 10 a.m. Eastern. Call now. Toll free at 877-927-6648 or internationally at 727-873-7618. The TFNN Bull Bear Training Hour. Now, Tommy and Tommy O'Brien. Good morning, everybody. I'm Tommy O'Brien, fortunate this morning to be joined by our man, Basil Chapman, filling in for Tom. Basil, good morning. Good morning to you. How are you? I'm doing fantastic. How about yourself? Very good. Thank you. Good. Well, to start things off, Basil, we have a negative market once again, except for the NASDAQ. NASDAQ, just eat in the positive territory up one point. Training at 8,099, you have S&Ps right now, negative by six, training at 2970, Dow Jones negative by 91, training at 26,714. We got bonds with a 2.0610 year, and we got the gold contract down a bit, but relatively bouncing off the lows, jumping over here in a moment. Gold right now, training at 1393, and crude oil trading at 5,722. The market's getting a bit of a bounce on the open this morning. And as we started off, Basil, let's jump over to our man, Mr. Kevin Hinks from TD Ameritrade, Thinkorswim. Just right here, right after our program, Fast Market with Kevin and the team over there on the TD Ameritrade network, they always have some interesting conversations to cover. Kevin Hinks, good morning. Good morning, Tom. Good morning, Basil. How are you guys doing? Doing well. How are you? Good morning, Kevin. All right. You know, I hope we have time, Tommy, because I've got about two hours of things I need to talk about here in the next five minutes or so. Is there a, you better talk quick. That's right. Yeah. I know this is one of those days after a pretty quiet Monday in terms of data and things to talk about, the pace of this week is really going to pick up. And it starts with some of the data that we got today, and if I be small business and Redbook, interesting numbers, and if I be a little weaker than we thought it would be, but still showing, you know, some solid strength, just not as high as it was in May. And then Redbook, a blowout number from Redbook, up 6.2%. So that's showing strength in chain stores, discounters, and retailers in general. So we've got a Joel's number coming up here right at nine o'clock. So, you know, leading into Jerome Powell and everything. I still think, even though Jerome Powell speaks twice this week, guys, I still feel the biggest data point, the biggest market mover is going to be Thursday's CPI because that will, for all intents and purposes, lock in what the Fed's going to do, I think. Yeah. That's 8.30 AM Eastern time, I think Thursday morning. And I'll be waiting for that too, Kevin, for sure, as, you know, it's interesting that we start getting Chairman Powell tomorrow and Thursday. And I'm sure he's prepared. He always seems to do a really good job of at least saying what he wants to say in each moment and not misstepping on his own words. But it'll be interesting to see as that happens. We have, you know, 2.06 on the tenure, but the market, 100% that it's going to cut, Kevin. And the conversation seems to be between 25 and 50 basis points that people are trying to digest, if that's even possible, the 50 basis point question. Right. But unlike Janet Yellen, Jerome Powell is a little bit more inclined, at least early in his tenure as Fed Chief, to make some headlines. Yeah. So that's why I think traders need to really watch what he says, because, you know, remember him and James Bullard both came out and really discounted any mention or thought of a half point rate cut. Yes. I think they took that off the board. So that pretty much as long as CPI doesn't come in and show any kind of, you know, hotness or warmth in the CPI number and the expectations are that it won't, that should really set the Fed on their path to a quarter-point rate cut, something that I've never seen in my career with an unemployment rate at 3.7 and the strength of the economy we're getting. Hard to imagine the Fed cutting rates, but I think that's exactly what they're going to do. Yeah. Markets at all time highs. S&P at all time highs. I think this might be like the third consecutive day down, but very muted days down, right? I mean, you're talking about, and I looked at the VIX, even 14 on the VIX, if it's three negative days down. Considering where we've come from, this is really a very minor pullback for three days. Yeah. Exactly. And I think, Basil, you tell me what you think. I really think that we are feeding off some weakness in Europe. I mean, the Dax down 1% today, that's affecting our market. I think the weak foreign markets, Sunday night into Monday morning, that combined with the Apple downgrade, I thought all of those things really kept up wet blanket on the market yesterday. And except for the Japanese markets, everything else was read again last night. That feeds into our futures overnight. I need people to be nibbling on this market today, though, because the down opening after the foreign market is lower. It'll be interesting to see how this day finishes. Kevin, with the RTH at highs, almost back to the high from last year, and with the dollar rallying, and some of the statistics that are coming out, what the Fed looks at, I don't see the 50 points. I see 25 cents. But wow, that would be so unusual, wouldn't it? Oh, I don't think there's any chance, Basil, that they're going to cut by 50 basis points. I think a quarter of a point is as aggressive as they want to be. I think drone pile by nature is a hawk. It dragged kicking and screaming into this rate cut. But because in essence, what is drone pile admitting if he cuts rates on July 31st? He's basically admitting that the December rate hike was a mistake. Two mistake, yeah. Right. So that won't be easy for a hawk like drone pile to admit and agree to. But I still think with expectations for CPI on Thursday to be basically unchanged on the CPI, the year over year 1.6, that will signal a Fed rate cut for sure. And Kevin, so I want to jump a little bit. I saw that you guys now have a TD Ameritrade Network app that people can download to watch what you guys are doing out there. Go on the app store, and you can download now the TD Ameritrade Network app. And you can call up our shows and watch live and look at old archived events. Yeah. I got it on my phone. It's awesome, man. I was interested, of course, when I saw it. I pulled it up. And it's pretty intuitive, folks, in terms of the shows they have, what's airing now, when it's airing, checking it out. So download that from the app store. And for today's show, Kevin, of course, I'm sure there'll be some discussion of Chairman Powell and the rates being there. Beyond that, we have Pepsi out with their earnings today. Pretty decent. Down like 7 tenths percent right now, though. And what else do we have going on that you guys are going to be talking about on the program today? Today we're going to have some fun because it's in that chasm between when earnings are over and really earnings start picking up. What we're going to cover today is the consumer discretionaries. And we're going to make it fun. We're going to cover McDonald's, Chipotle, and Yum Brands. Nice. We're going to cover everything that is fast food in the consumer discretionaries. We're going to cover all three of them. You know what I have to say? It's fine. I'm driving out of work today, Kevin. I just happen to see a McDonald's and they had a deal, two Big Macs for $5. And I was like, man, two Big Macs. There's a lot of Big Macs to be eaten for $5. And it just went over my head as you said that, but interesting. And a coupon for angioplasty. That's what in the sodium, actually, I've been checking out sodium. Folks, you should keep track of how much sodium you eat because a Big Mac alone has got over 1,000 milligrams. I just happened to learn that. And you're only supposed to have about 2,000 a day. So that's what I said. That's your whole day, man. But hey, but they are doing well, that company, for sure. We look forward to the conversation, Kevin. We appreciate the update. And we look forward to the show in 45 minutes. Thanks so much for having me on. Thanks, Kevin. Stay tuned, folks. Basil and I are going to be coming right back. The Taz Profile Scanner is the most revolutionary piece of trading software that you will ever try. Wouldn't you like to approach the markets with confidence? As you begin your trading day, it's likely that you'll be faced with lots of decisions. 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With Basil Chapman this morning, we get the Dow negative 106, S&P is negative by about six, NASDAQ pretty much flat right now and Russell negative by about four. So Basil, what's been on your radar this morning? Like we're talking with Kevin, pretty muted day, nothing too substantial. You know, I saw a headline today, third straight day down and I was like, that's kind of blowing things out of the water when they've been such marginal action. Well, there are a couple of things that will be very important on the Friday close. This will be the first full week of July last week because it's a shortened week. So the weekly chart is at a letter in the Chapman Wave and it's at a leg E and this E could be, there's nothing else that I could count it as because of the way the Chapman Wave works from the low that was made back in December at 21,712 and Dow, you just count each successively high peak and this is the fifth high speak in the C. However, what I am looking at here is that the Dow is the only index, there are a number of stocks, but the only index, key index, I should say, that has gone to only a C in the Chapman Wave and usually we get to a D and if you look at the spy that's S&P, that's already gone to a D and it's had a pullback, but it's really a very minor pullback. Here's the QQQ, which is actually, as you had mentioned earlier on, let's see, is it still up? One, two, three, yeah, it's up 13 cents. Look, even then basically out of the last five sessions, almost all of them agreed, even though yesterday it was down, it closed almost at the high. So this is very benign when you're looking at what would happen if this was a serious top? Usually by the third session, you should be down a lot sharper, the day's young, anything can happen, but this is what I think is really important. When you're thinking about what the Fed has to do, it also has to do with the way certain sectors of the market have acted and reacted and I think that it's important, I've got the index that I call Chapman Wave, cash index, it's really not an index, there's only four stocks, but look, Sintas is almost at a high, an all-time high, and that's overalls uniform rentals. To me, that's just saying internally, at this particular point, and granted that this is always a late indicator because if the market is getting to highs, people are still buying overalls and rentals, anything that has to do with rentals, and they only get the message later on. Right, but it's still at highs. Amazon, which is part of that, that's the A in cash, is almost at the previous high, in fact, it just is about to take it out, that's high from April, and 2050 is the all-time high, and it is less than 90 points away from that. And just to add to it, we got six days away from that prime day that they have two days and they usually react very well around that, and that's just anecdotally, but they get to cherry-pick statistics, and so you're gonna get press releases that are mind-bending, the numbers that they do on those two days. It might be numbers, I'm not sure if it'll be the actual cash reward in the end, but the numbers should be there for sure. So Amazon, right? That's it, it's almost, even if it's just a marketing opportunity, right, to how much business they do over two days, it's astounding, and they usually react well, yeah. And in fact, it is astounding, it's absolutely incredible. It is. Spy, that's the S&P, the positive receipts, that's the S&P index trading vehicle. It's just off the all-time high, and Home Depot is really in that whole area of construction, right? This is, to do it yourself, it's everything there. Oh, huge indicator, yeah. Even commercially using Home Depot, huge, huge, you know, just beyond retail, yeah. And it's within a couple of points of its all-time high. Yeah, look at that chart, yeah. So to me, if you think, and don't tell me the Fed isn't looking at something very similar to what I'm looking at here. So there, if they're looking at the old guard, like the United Technologies, my other index, the Dow Quartet, Caterpillar, IBM, a triple M and UTX, that's the big cyclicals, that's different. So I think that they kind of, I think they're in the 25 cent, 25.25 area. Yes. Why? They need to have rules. They've got their rules. They don't want to break their rules. They forced to kind of leverage away from the rules occasionally like they did in December. But at the same time, I think they kind of stuck, and I don't see how they can do it in different, yeah. Yeah, I think that's what they've hinted to in terms of hinting to the 25 basis points and hinting away from the 50, that that wouldn't even be possible with, I believe it. They need the 50 for later. I mean, you always have to have some firing bell for later on. Yes, I know. As low as we are, how low can you go? Well, that's an interesting question because think of it as a commodity. You remember what happened to the semiconductors? And as a semiconductor, in greater and greater use and greater demand, so the price came down because of international competition. So if you think of it as interest rates or under international competition to see who can have the lowest rate they don't already want to, they forced in that category, the outlier is even right now the United States because even though we have our lowest rates or close to our lowest rates, and the competition around the world for money, loaning money is there. It is. And it's in powerhouse countries too, not just talking about Germany or wherever, you know, strong, strong countries that you can just marginal, barely positive interest rates if not negative, yeah. And then we used to think that China was the holder of most of our bonds, but it turns out that Japan actually has a greater proportion. So even that mix has changed. So China's leverage now is really their demand because they've now raised the overall cost of living has risen, the standard of living has risen. And I think they want to keep it up. And as a result, they are, I don't think it's them suddenly selling bonds and all that for our market to tank. They want our market to hold up. They want us to be buying as much as we can. And in a way, we leverage to them as well. Oh, definitely. It's a back and forth relationship, right? For sure, isn't it? They need that American consumer at least in this stage right now because of the power that we have with our wallets, right? And also, I think that they have, they might just sort of shrug their shoulders and raise their eyebrows, but in terms of the verbal back and forth between the US and China, that's just part of the game. They know that that's the modus operandi of this president. And I've always said that he's a 1% winner. He wants 51% to call it a win. And that's the way you've got to look at it. They've been carried away with all the words and all the damage. The deed is 51% to say we won, whatever it is. So I think that we've got to look at it as some deal will be made. It won't be quite the compromise. It'll be a big compromise, but it'll look like a win, a property for both sides and it's going to take a lot of time. I found it interesting. There was a story. I was trying to pull it up. One of the, I believe it was the Chinese, one of the envoy ambassador or one of the negotiators. And I will pull it up. I just created a Twitter account and it was ironic because Twitter's not allowed in China. So they really are on the PR where it's like they don't care if they don't allow it in China. They're going to have a Twitter account because the conversation is going on over here. And guess where it's going on on Twitter sometimes, right? Courtesy of the president. You know, let's look at Twitter. You know, that should help Twitter. Let's see. I always think Twitter, Twitter, Twitter could not have it more made for the last six years. And still, you know, in terms of the amount of mentions they get. Yeah, they're only at 36. Exactly, they're struggling, man. Come on back, folks. Baz and I come right back. Hi folks, Tom O'Brien here. If you'd like to get my daily newsletter of Market Insights, then now is a great time to sign up for a 30-day free trial. Every morning by 9.30, I send out my morning letter to subscribers with Market Commentary on a variety of markets, currencies, and commodities to keep investors up to date on the day's trading action. 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Revenue, 16.449 versus 16.426. And to jump over to the chart, is there in a tough business right now Pepsi in terms of soda, some candy, some fast food? That number jumped up to 134.67. I came in here. I had heard that news. I was expecting to talk about Pepsi trading higher. And then boom, I mean, it's off those lows, but still in negative territory, about two tenths of a percent. But just look at it. It's actually at, let me just finish my notation here. This is at well. I just pulled up the chart. Yeah, you got it right there. It's remarkable. It's at highs. I mean, it's within 135's was the high just three weeks ago and it's trading at 132. It's amazing. You know, Kevin was talking about McDonald's. Look at McDonald's. It is amazing. I agree. I tell you why this is such an unusual market. You're looking at areas that really for not just recently but forever have been called the defensive area. What happens when things are getting kind of the markets getting a little choppy? You start to look at Clorox. You look at McDonald's. You look at Pepsi. McDonald's is within points of its all time high. So this is such a crazy market in the sense that the tradition has been, this is exactly the world we're in. If you're looking at our Congress, you're looking at the Senate, everything's been turned upside down. The old God has been shaken up and the new God thinks that they are. I mean, you saw that in the US soccer, right? That's right. Everything's turned upside down. The results, isn't the result that traditionally you've anticipated because there's another side to it that has huge social and socioeconomic and political connotations. And now we're looking at almost the same thing in the market. You're looking at United Technologies, one of the great companies in the world, trading way off the 144 all time high double top that it made from last year to this year, trading at 129. And you're looking at Pepsi Cola. You're looking at the dollar moving higher. Gold had a big run. They don't usually go together and they've been moving. Everything is different to what you would anticipate. And those companies, to their credit to some of them, they've done a good job of managing the woes that quote unquote soda company like Pepsi. Now they of course have, I believe, Pizza Hut or they had- They absolutely like to have a bunch of other things. But then McDonald's especially, right? I mean, fast food in terms of, we're just talking about people generally are very aware nowadays that eating two big Macs for $5 at least are aware of the unhealthiness of that type of food. So that exactly speaks to the issue. About two years ago, maybe a year and a half ago, I just, for fun, I would mention to friends, I'd say, you know, we're talking and talking and I'd say, you tell me, which stock do you think is higher? Whole Foods or McDonald's in the stock market, that is. Sure. Whole Foods must be higher. Everybody loves Whole Foods. It's gotta be higher, right? Yeah. No, that's not necessarily right. The reality is, and that's the reason why there was such a huge shock when Trump got in because most people didn't understand that there's a middle ground, there's something else going on that isn't always being reported. Sure. And that's exactly- Definitely. We're looking at Pepsi and we're looking at the cleverness of their modus operandi, their plan. I mean, dear, what was the name who just retired from Pepsi? She was- Yeah, I know the woman that was the CEO, unfortunately. Just such a good- Definitely. And I'm saying, how is she going to accomplish this? And she did it. Yeah. And she kept doing it. And they've expanded dramatically even the, and I just focus on the drink side because that's Pepsi and soda is really one of the worst things you can have for yourself, folks. So that's dealing with that, but they've diversified tremendously even on that in terms of waters, flavored waters. So that's what, the issue really is you've gotta be digging deeper. You've gotta throw away preconceptions. Larry always says, trade what you see and that's really the market. You've gotta be looking at the nitty gritties. As I said, I liked the MRI or the X-ray of the patient because I keep showing this. In fact, I wonder if I've still got it yet. Do I have this? Let me open up this chart because I was doing while we were talking yesterday. Oh, it's on a different chart. I had a chart of the monthly Dow. Oh wait, maybe I did it on the S&P. Let's go to the S&P. And I, yes, I think this is the one. There it is. So throughout the Obama years when Obama and then there was all the anti, you remember there were these groups that went to major cities. They, what was the name of them? They were anti-capitalism and- Occupy? Occupy, right. So you had Occupy, you had everything. Obama never spoke about the stock market. Stock market went to one of the greatest gains during his presidency. And then you get Trump. This is Mr. Stock Market and it continues going up. It does. So you've got to throw away some of those preconceptions speaking to someone the other day. So a few people actually talked to me about the market these days, but a friend of mine said, so what should we be doing here? And that's someone who's- What's the answer, Basil? Yeah. And I said to him, you know, what are you doing? He says, well, I'm in, I'm reluctant. I kind of, I said, you know, take a little bit off if you're nervous so that you can sleep well. Sure. You've got a mixed portfolio. You've got bonds. You've got stocks. Just make it easy for yourself. Don't make it complicated. Yeah. And really, I think as long as you're, if you're an investor like that type of person sounds like they might be within, I think everything's gonna be fine. I think there might be just some volatile times over like the next year, year and a half as we make it through this next election. But that's just volatility. You know what I mean? That's just a lot of uncertainty as things get sorted out. And so when that passes, things will settle back down either way. Look at this chart. This chart is showing that even the S&P having gone to a new high in my monthly chart. Yes. If this is a brand new leg A and it's taking one, two, three, four, five, this is a sixth month with a higher high. Yes. If it's F, that's one thing. But if it's A, F it says, oh, be careful. A says, are you kidding? This thing's going higher for the next. It's only at A and it should at least get to a D. Hey, we're gonna start cutting rates which it seems like we are. There's gonna be cheap money available. We know the companies love that. And anything is possible, man. I'm just saying, don't make it complicated. No, I agree. It's doing nicely. If I had money in the market and I just, I wouldn't be worried as in there's plenty of potential the upside. The only risk I really see is that just there's some more volatility than, we've really been used to as these things just chugged higher for the better part of 10 years. Absolutely, after six months of higher highs, in the month, you've got to expect at least some kind of a monthly pullback at some point. But technically, I think not only that, I had this chart up just a moment ago I spoke about it yesterday. And what did it say? I keep forgetting the actual acronym, TINA. There is no alternative. And that's really the issue for a lot of people. I just think that we tend to make things a lot more complicated than they should be. There's no reason why you shouldn't be always a little nervous. It's always good. Yes, no, because the money's at risk. That keeps you alert and attentive to what's going on. Absolutely. All right, folks, come on back. Basil and I, we're gonna take a three minute break. We'll be right back. 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That's TFNN.com and hit watch Tiger TV for the latest market information. Basil Chapman this morning. Basil, I just wanted to briefly touch on. So, unfortunately, Ross Burrow has passed away. Most people are familiar with. Ran for president twice. Just pretty interesting guy. Obviously brilliant philanthropist, Patriot for sure it says in here being able to run for president and build a company with billions in terms of technology. Pretty interesting. He started his first company, Basil, in 1962 with a thousand bucks called Electronic Data Systems. That name sounds so fitting right now. I can't imagine 1962 naming a company let alone building electronic data systems in terms of what existed in 1962 to the likes of electronics and. And very successful and he really was data dependent. I mean, that company was a terrific company. That just seems ahead of its time to even know that electronics and data and systems, the three words in that name are gonna come to run the world essentially and then sold that company, sold another company two decades later to Dell for 3.9 billion. So the 92 election, so I was only 12 years old but to speak to how really nationwide, I'm sure people listen and I even remember he had a lead with 39%. Let me pull up here. I had it up. We'll get to the independence. There we go. So he had a lead of 39% in June as an independent candidate to Bush's 31, Clinton's 25, he dropped out of the race and then rejoined later and I came in with about 20% of the vote after that. So if you think politics are a little crazy right now, which I think they may be, imagine a third party candidate leading with 39% of the vote dropping out for three weeks then deciding to come back in. And of course, throwing quite a handkerchief into that election that Clinton. And mixed things up a lot. Yes, I see. That was a big shakeup. Yeah. Pretty remarkable for sure. Okay, back to the markets. What do you have up here, Basil? What are we looking at? Right now I'm looking at the dollar. The dollar is up a little bit. It's at 97.47. If you look at the monthly chart. So I always like to talk about the market as far as I'm concerned, you're looking at only three directional activities. One is a straight line up and down. The other is the cup and the other is the arch formation. And you can see how many cup and arches it's made and this last one essentially says that in 97.47, if you do a horizontal line, you go all the way back to about July, August of last year and you'd be at almost the same price. So it's been a trading band, but the fact that during this period you've seen gold spiral, this is a really big move for gold. Yeah. 767 on the continuous contract to the most recent line in the 1440s. That's a big move. So I spoke to you about this yesterday. I think the focus I've had is to say that if you treat each sector and each instrument as a separate parcel, you're much better off than trying to link them. And that's I think what we've seen in the bonds. We've seen that in the gold. We've seen that in the dollar and each one has had its own kind of trajectory. And if you're looking at the TLT, and what's interesting is here the market is at all-time highs or just about all-time highs. And yet you've got bonds at multi-year highs. So the years on multi-year lows. Yes. You've got the dollar in a higher range. If you're looking at it in terms of a yearly chart pattern, it's in a higher level now than it has been from when it broke down back in June of 2017. So we're talking about two years and it's back. So when we were talking with Kevin and then what you and I spoke about is that there are so many parts of this puzzle that in the normal market sphere that we'd be looking at over the not years but decades, things are different. And everyone says, oh my God, now you've just said things are different. That's a problem. No, they really, they've been for a long time this whole Japanization of our bond yields. We've not seen that since the 1920s, I dare say again back in the 1920s. So this is different and the demand on each side, why is the dollar acting well? Because I think it's representing the state of our United States economic mode at this particular point. And it represents that we do. We're not doing as well as maybe we were back in January of 2017, but we're doing very, very nicely. So that's what it's showing. And if you look at the bonds as international demand is forcing yields down. Gold is, I think I still talk about it as more the currency of fear. It makes sense. That's why silver didn't move up quite as sharply as gold if I'm correct. So I think that you're looking at, and not only that, you've got crude oil more at the lows than the highs. It's not up in the 70s and 80s than it's not down in the 40s, but it's right in the lower range of the 57 area. So I think that this is, in a sense, you're looking at the price as Goldilocks, but all the worries are there. And I think that when we speak about the Fed, I think the Fed knows exactly what it wants to do. It's gonna say, let the market take care of a lot of what we would like. And we'll just be, we've got our normality and we're going to stick to our traditional way of looking at the market in this particular new Fed maker. It is a new environment for sure. As we speak to cut, whether it's 25 or 50 basis points is the conversation. And I'm sure that 50 is very likely not even in the scenario, but that's the only conversation because the conversation is not, is it 25 or nothing? Because 25 is almost locked in, which is pretty remarkable at all-time highs. Just jumping back to Gold, one thing that I keep my eye on, we've talked about it before. I think we talked about it yesterday as well, Basil, is that just taking the lows from that beginning of that run in May, let alone going all the way back to the run we had in the 1100s, you're looking at a 38% of like 1377. Now we've been hovering. And how often does that happen? Right, right. So we've been hovering right around there as in this is an important area. If you really see Gold, I'd say pull back dramatically into that move, that's not gonna be too bullish for that price as we pull back. And I'm sure, as you say, my head goes right to, well, if Gold does that, what does that mean rates are gonna do? Or what does that mean the dollar's gonna be doing if Gold pulls back to the 1360, 1340? And I'm not too sure. That was my point, that each one is working independently, but if you look at transformation- And that's what I'm saying right, but I'm not too sure of that, but I would keep my eye on some of those levels just because of where Gold has been staying focused on that one entity. But go ahead, yeah. I was just going to say, I remember I spoke to you about patterns, how they repeat. And I said, this is kind of flag pattern and I've drawn in the rectangle. And I mentioned that the TLT has the same pattern. And it's a fabulous move up, went also to the PDF, they went sideways and popped once. Now it's back in this rectangle. These rectangle patterns can last a lot longer than your patients. And essentially what it's doing is it's saying, now this is the real, this is the bull bear show. And that's exactly what we're looking at here. This is the fight between the bulls and the bears. That's right, in the box. Which side's gonna win? Which side is it gonna break out on that box, right? I mean, that's it, right? That's right. And not only that, the longer you stay in the box, the greater this is a magnet, in this case, the 131 to 132 area. And the greater the chance that at some point, you're gonna have a little dive below it. And it's been hanging on the upper end of that box though, for the better part of a, what, a couple weeks? Three weeks? Four weeks, yeah. All right, folks. Baz and I, we're gonna take a three minute break. Check out the opening call on the front page of TFNM. Baz will service these hocks through all those charts every morning. You see the great work he does right there. Baz and I'll be right back. I'm certain you are or strive to be one of the best of the best at everything you do in life. It's the most common trait that we tigers and tigers share. If you're looking to become the best of the best when it comes to managing your money, let me teach you to do what most wealth managers tell you can't be done, which is how to time the markets. I'm Steve Rhodes, author of Mastering Probability. And for the last 12 months, Timer Digest has been tracking my newsletter signals, which have earned me the ranking as their number one market timer in the nation for the S&P 500 for the last 12, six and three months. Timer Digest also ranks me as the number one market timer for gold as well. The fact is markets can be timed and I'll teach you the exact set of tools that I use that has transformed me into one of the best at what I do. Sign up for Mastering Probability today by clicking on the newsletter tab on the homepage of TFNN.com and get immediate access to workshops where I take you step by step how to use an extraordinary set of tools as well as provide great market calls too. Sign up today. It's amazing to think that Tom O'Brien started his weekly gold report 17 years ago with the first issue published April 7th, 2002 when gold was trading at under $300 per ounce. Gold peaked at more than $1,900 in 2011 and after spending many years consolidating at lower prices, gold may be poised for its next big run. Tom O'Brien publishes his weekly gold report every Monday morning for subscribers consisting of coverage of the XAU, HUI, GDX, The Dollar, Bonds, South African Rand as well as 25 different mining equities with specific I sell recommendations. As of April 1st of this year, the gold report currently has eight active positions with an average unrealized profit of almost 8% for each open trade. New subscribers get a 30 day money back guarantee so you have nothing to risk. For all the details and to start your gold report subscription today, visit the front page of TFNN.com. Don't let gold's next big run pass you by. Sign up today. Since 1984, Basil Chapman has been using the Chapman wave methodology to advise traders of his expert market opinion. While originally hand drawing charts from the late 1970s into the 1980s, Basil noticed that prices under most circumstances virtually always had a certain number of legs to the upside before declining sharply. Later, Basil found that computer software which included the standard market technical indicators enhanced the degree of accuracy in calling price turns as well as market trend calls. Thus was born the Chapman wave sequence. Using the Chapman wave methodology along with other indicators, Basil Chapman advises his subscribers of his expert market opinion each market day with his opening call newsletter. Right now you can get a two week free trial to the opening call Basil's daily trading newsletter by visiting the front page of TFNN.com. Cancel at any time during that trial and pay absolutely nothing. Get your two week free trial to Basil's newsletter the opening call today by visiting TFNN.com. This segment is brought to you by Think or Swim. For more information, just click the Think or Swim banner on the front page of TFNN.com. Hi folks, Tommy O'Brien with Basil Chapman. We got the markets trading higher in Nasdaq up 14 points as in high off those lows. S&P is just negative by two now. The Dow negative by just about 80 points. I have the Nasdaq up here right now from those overnight lows. We're down there at about Nasdaq 177.43. We're up at 78.24. You're talking about more than a full percent from that lows. As you said, Basil, the day is young, not even 11 a.m. What do we got coming up on the Tiger Technicians Hour at noon? So in my work, I always like to, let me just go to this chart. I like to identify the lowest low bar and merely count each successively higher peak on the fourth highest peak. Other things can happen. You can see that right here in the, let me go to it in the E-mini, in the two-minute chart, we just made a peak D. Price is still hanging in very nicely. It's only a C in the five-minute chart, only a C in the 10-minute chart. So that suggests we could go a little higher than this. So I'm going to be talking about patents and I'm going to be talking about the reason why we are still remaining long from the low of June the third in our Dow long position. And we still have other positions that we're long and why I'm looking at this and saying there's a really good chance that within the context of the market last week, I was expecting a very choppy week for this particular week, why the choppiness could continue. But I cannot ignore the fact that the cues and the spy have made D's and E's as high so they can have a little sideways movement here. What will change things completely is if by Friday on the weekly basis, there is a really big sharp sell-off in the Dow, the S&P and the cues going into the Friday close and that'll say, okay, now we can have more of a timeout but I like what I see, I must say at this point. All right, Basil, I appreciate you feeling in for Tom joining me, it's always a pleasure. Thank you very much. Thank you, we look forward to the show at noon. Folks, stay tuned, we have Fast Market coming up next, don't forget, go check out that TD Ameritrade Network app, pretty cool as well. Stay tuned for Basil at noon, live programming, all today, Steve Rhodes, Dave White back in the chair. We'll be, stay tuned folks.