 man Mr. Basil Chapman as you do each and every Tuesday at 20 past the hour and don't forget folks Basil has 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 gonna see it right under featured content you just hit the oh I see we put the Tigers then up oh I got it okay one second you go into the newsletters and you're gonna see the opening call folks right on your left hand side you just hit that button you hit subscribe you can get the opening call for one month for a hundred and forty five four hundred forty nine dollars you get it for six months to six ninety five which is savings of a hundred ninety nine dollars at twenty two percent and you get it for a year for five ninety three which is you get it for a year for eleven ninety five which is a savings of five hundred ninety three dollars or thirty three percent all come with thirty eight money back guarantee and Basil's case he's got about ten to eleven great webinars out there you want to understand how to ride this wave folks and ride this market check it out great newsletter as a Chapman what a trip how are you I'm doing good yourself I'm good you know considering what happened in the in the two weeks that we've been looking at this since I got a bicycle on the Dow down to about just under thirty three thousand this is remarkable and as you know in Chapman we've always looking for a buy signal to be upgraded to a buy mode and that implies at least four higher peaks going to a leg D to a peak D and here we are with a height to the thirty five thousand three seventy two we're a little under that right now the last time it was made back on January the fifth of thirty six thousand nine fifty two was a peak D so I'm always very wary when we get there but one of the things that I am I think is quite fascinating is that you and I last week spoke about all the different divergences positive and negative and even within sectors there are mixed they're really mixed signals and that this is a period where if you can identify the tide I always talk about the tide that is if you can identify whether you're going up to high tide or you're coming down to low tide that's really important because it allows you when you're trading with the tide if you are wrong you're wrong just momentarily because the tide is going to get you back on track so what's really important here is that although this is a fantastic move from the thirty two thousand two seventy two low back around about the twenty fourth of February in terms of the waveform going to a peak A than a B and a C and a D normally you would see a much bigger move in each of the legs to the upside so what I'm very impressed we are it's the monthly chart in all of these instances that's going to be really important how to be closed Thursday and four o'clock as you know between now and then as a lifetime in this market so far I like what I see everything's moving just the way we wanted it to but you know there are a lot of extraneous events that they could change change the trajectory so when you were talking about I've got here and I haven't shown you this for a while I've got this there's a Chapman wave automated support and resistance levels and you can see here in the Dow thirty five thousand five sixty one is the next level of resistance over here on the left you can see there were thirty five thousand nine hundred and thirty five thousand seven hundred and then we turned around even at the top we made that top at thirty six thousand right there thirty six thousand nine fifty two you had two resistance levels just above it so how we how we get above in the next not just the next few days going to the end of the month going for about two weeks if there's any chance of the Dow getting into the thirty five thousand eight thirty five thousand nine hundred that is really considering what and this is what I've been talking to you about for some time to consider all the things the negative things that this is including oil at just record highs that we're going to record highs and the war that's going on the interest rate factor look at this the Dow thirty six thousand nine fifty two is the monthly chart make a peak E we go under the fourteen period moving average and at this very moment which is what three twenty three twenty three p.m. Eastern time on Tuesday the twenty ninth so far this candle looks good but what's even more impressive and I think you alluded to that a little earlier on that the S&P look the S&P forty eight eighteen down to forty one fourteen and here we are at forty six thirty I don't know who could have thought of that when you were coming down and just two and a half weeks ago when things are looking so ugly that so far this month we could have this kind of a mood so I'm not arguing we've been along only got long positions we have we actually have a couple of very low-price stocks that I said besides the triple digit positions that we would have I also want to have single digits because they can give you a very nice percentage gains if you're in the right sector at the right time so we've got one that's up about five percent today so it's very selective some some stock to know when you look at when you look at some of the brokerage area not all of them are participating and I usually like to think that the market really moving sharply would have the brokerage area moving very very well so there are some divergences but I like what I'm seeing if you look at the daily chart of the Dow the Magdy's very strong and hasn't even started turned down yet stochastic's flat at ninety seven point sixty one that is fabulous that's superb action and as long as it stays flat and holds there that's a big positive on balance volume is lagging somewhat so that either is a very big positive because you have to wait for this blue line the on balance volume to go all the way to the top to get oversold that would be a big positive or it's just telling you be a little careful so at this point I'm thinking of it as just confirming that we are moving higher so the day the 9th period is over the 14 we way above the 200 period moving out there are a lot of things to like here and under these conditions to actually have this kind of a rally for any of the bears this must be an absolute shocker because that's quick for sure straight line move man yeah but not only that in a certain way they correct in thinking negatively but they're not correct in saying it impacts the market negatively because the market right now is actually shrugging off all the bad news I think that that's usually a very good sign yeah no there's no doubt I mean the you know but you had the leg down it in the most deviant thing might take is it go all the way back up and then it blows off I mean you know it not it doesn't blow off top I'm just saying that this is what markets like to do which is pretty wild and you know and the other thing is in Chapman methodology we're always looking for leg D in a buy signal to buy mode and this is still a leg B a pp in the SMP and that says we should somehow go about 48 1862 and that would be a very big positive for the monthly chart that will start leg C and it should still be a D right I'm baby right I love it Basil thank you so much look forward to show tomorrow thanks man stay right there folks who come right back