 Welcome back folks, down, down right now, down 5 and 30 S&Ps are off 54, NASDAQ's down 178. Let's go over to our man, Mr. Basil Chapman, as we do each and every Tuesday at 20 past the first hour. And don't forget, folks, Basil has an outstanding show here. Every trading day, 12 to 1 Eastern Standard Time, also a great newsletter, the opening call. Now, the way you get the opening call, you come over to our website at TFNN. You can go right into the featured content, you hit the opening call, you can hit subscribe right there. You can get the opening call for one month for $128, six months for $5.95, which is a savings of $173, a year for $9.95, which is a savings of $541. All three folks come back with a 30-day money-back guarantee. Basil Chapman, what's going on? Hi, Tom, how are you doing? We've finally got our big spring day here, beautiful sun shining after a lot of rain. That's awesome, man. It is. Yeah. You know, it's interesting. I saw some of our tigers and tigers talking about yesterday up in New York, they were walking out in Central Park. Yeah, so. Oh, that's not wrong. Spring is sprung. That's a beautiful thing. It is lovely. Yeah, we've waited a long time for this. Oh, my gosh. The sun might be shining, but the clouds are there for Wall Street. Wow. That's for sure. Yeah, so we were talking the other day, I said that for subscribers to an opening call, we had gone short the Dow back, it hit a high on the 23rd of April at $26,695. We had just gone short, so we've been short all that time. What's really important about this is that I've been talking about the weekly chart that had been so strong, but the data was starting to show deterioration. Okay. And in my show, my Tiger Technicians Hour, and I'll do a little bit more of this tomorrow for those who are just joining for the first time, listening to me. My Tiger Technicians Hour, we've been talking about the different indices, how the, did they say means chart? I'm sorry, I'm going to get a chart up right now and let's do this. So this is going to be quite important in terms of, there we go, because I've tried to be full. Oh man, am I having a problem? That's okay. Sorry. That's a shame. I had it already. I don't know why it's not giving me the chart, but I can do a still application. So let me just show the chart if I can, if I can get it up here so that we can talk apples to apples. There we go. There we are. So the Dow itself is breaking down in terms of the support that I was talking about in the 26,100 to 25,900 area. That's number one. Number two is that the daily charts were starting to show some deterioration in the key indices. The weekly charts had been really strong. So what happens over the next two weeks is going to be very important for those weekly charts because for the magnitude, the moving average convergence divergence and the slow stochastic to really go negative, you would need probably about another two, maybe even 300 points on the Dow to start impacting them. That's to the downside. But what I would say is that just for right now, the upside looks very limited. We might be getting a little bit overboard. The VIX index is really screaming higher. So I'm looking at it in terms of what happens to the general market if, in fact, on Thursday, if there is a China, if the tariffs are raised, what happens if China comes back with tariffs of their own? It doesn't have to be big, but it might be just those that affect us kind of inflationary, like maybe materials, maybe whatever it is that affects the day-to-day life. Our own tariffs affected us. I mean, everything's from China. Not only that. You can just go to Home Depot, Lowe's or Walmart. The prices are increasing. Right. And not only that, the measurement that the Fed uses for inflation and what we in our day-to-day lives experience, I don't know where they get, there is inflation. There's no question about it. And so, okay. So with that aside, what I am looking for is that there could be some, at least for another couple of weeks, there could be a lot of shaking. It's mostly because we were overbought. I mean, I was talking to you about the XLK breaking out into, that's the S&B tax sector skyrocketing to an all-time high. So the monthly chart has really improved. And it says there should be tremendous support. It's at 76.15 down to 72, the nine-period moving average on a worst-case basis. But at the same time, you can see that in the daily chart, that's a pretty quick and sharp pullback. And it is starting to affect the weekly chart. So that means, as far as I'm concerned, the nervousness is there, and that should impact the market. So I think that there's a cap. The most important thing is I think there's a cap. We are still trying as much as possible. We've had some really nice positions. They're still holding very well between 3% and 22% on the upside. I'm trying to keep those, and I had a webinar about a month ago. I discussed what we're looking at, why we're looking at these things. Why these particular sectors are very important right now? Why we would like to start positions and try to hold them as long as possible? Because I think they are going to be the important sectors over the 2019 period. So one of them is that I was looking at the tax sector has been quite vulnerable. Maybe other areas are starting to show some support. So we are short the SMHs, which is the semiconductor. So it'll be an easy trade. We've had to try a couple of times with the last ones working out very nicely. And there's a pattern that I talk about very often, where it looks like a lower case H. And if the left side support is taken out, in this case, 113.49 and the SMHs, that's not good because it means now you're making lower lows and lower highs. So key support will be that gap with about 100 and I think it was 110.56. That was that gap up on the, I think that was that news that came out and Intel's spike on the 3rd of April. So that low, there's a gap just below that. So that's going to be very important. I suspect at some point we're going to fill that gap in the SMHs. And the weekly is still very strong. So it's very ironic that we could have had such a powerful move from December. And if you look at the S&P, I'll go to the SPI, it's a little bit easier. Look at the SPI. The SPI's had just two red candles. This might be the third red candle from the low that was made of the 200 period moving average when it made its low in December, the 26th of December at 233. And it's climbed all the way to 294. And in all these weeks, it's had just two red candles. This might be the third, so it definitely needs time. That's really what I'm looking at. So we've got our short positions, we've got our long positions. It's going to be important. You've spoken about the TLT, but if you look at the TLT, good action today. That's the Lehman-T-Bahn fund. So I'm always looking at this and saying, historically over the years, decades, actually, when the markets start to show some volatility, that always implies going down. Maybe that's the only time they say the word volatility. I know. Isn't that funny, man? I really do this. I know. I mean, this phase, it was really volatile from the December low to the most recent high. But no one talks about it. Anyway, the normal reaction is that money goes, it migrates from the uncertainty of equities or stocks, and it moves to the so-called safety of bonds. I do like this action, but the last peak, D, in the chapter, we've always looking for that fourth highest peak at 126.69 on the 28th of March, suggested that when we came down, which was a chafty, when we go up, you want to see that taken out. Not in D, but should be C. So this is already D. So I'm looking at this and I'm saying that's a long way to go to 126.69. So that's going to tell me a lot about this market because if the TLT bonds goes into the 126.80 or the 127s over the next week or so, that's quite serious. That means that a lot of money is coming out of stocks and going into bonds. So I'm looking at this. Got to be very careful right now. And folks, the way you get thousands of newsletters, come over to our website at TFNN. You're going to go right under featured content, bottom line, opening call. You see it right there. You can get a month, six months a year. Great newsletter. Of course, you can watch them every trading day right here at noon. Bows, we have a great one. Safe one. Get outside. Play some tennis. Have a good time. Get another half an hour. Beautiful. Thank you. Stay right there, folks. Come right back.