 Let's get over to our man back Mr. Basil Chapman as we do each and every Tuesday and don't forget folks every trading day Basil has an outstanding show here 10 to 11 Eastern stand-in-time also as a great newsletter the opening call Now it's very easy to get the opening call folks come over to our website at TFN You're gonna hit newsletters You're gonna see the opening call right on the left hand side you just hit that opening call You hit that subscribe button you can get the opening call for one month for $149 You get it for six months for 695 which is the savings of a hundred and ninety nine dollars at 22% You can get it for a year for 1195 which is a savings of five hundred and ninety three dollars at 33% Now they all come with a 30-day money-back guarantee folks Basil has approximately 10 to 12 Workshops that are out there also so you'll really understand how the Chapman wave works and how you can ride that wave each and every day Basil Chapman what's going on? Hi Tom, how are you? I'm doing great man yourself very good. Thank you. Good. So What do we got here? Okay, so we're looking at the Dow on the left side is the daily chart in the middle is the week here on the right Is the monthly chart and there are a couple of patterns that have been forming over the last week One of the one of the patterns that I've used for years and years is something that I call the stalk leg formation What happens is we identify a low and then the market or whatever we're following the tradeable that we're following Moves up sharply and then all of a sudden it stalls. So that's that's I call a leg to the upside This is not nothing to do with leg with a peak ABC just a series of higher highs and then it stalls What's really important is that it then starts to go sideways But it doesn't make a rectangle formation it makes a decisive oval pattern And one of the reasons why I called it a stalk leg This goes back to when I used to hand chart when I hand charted on engineering paper and paper and pencil And ruler I would get these lines and I would find that these trend lines for some reason Would come back much later on so I I've always been a trend line follower and Certain patterns and the pattern that identified was that when the price goes higher and higher and higher and then it stalls And then it goes sideways not in a rectangle Right, there's a different connotation with the rectangle But really within an oval pattern It looks like a stalker how it stands on one leg attacks the other leg under the body Then you get this oval body and then what happens is there's a sudden pop to the upside and that's the neck Now the neck can comprise of a very short pop to the upside and it's usually this is only a peak a So the implication here is somewhat different Usually I've already gotten to a C or even a D and you get that pop to the upside above the oval of the The the pattern that I look at for the sideways pattern And then it comes back in to the pattern and how it treats the top of the oval is going to be very important So it goes a leg oval body and neck which is often quite short But it goes up and then it comes back and retest the body and that's the beak and then after the beak There's usually a big rally and then you're on your own But this pattern is somewhat different because the oval pattern is only formed a peak a and Yeah, we are sideways and even the last four sessions we haven't gone above thirty three thousand two seventy two So either is going to be a very sharp arch through the downside and we close under thirty two thousand five hundred Sometimes this week or we break above and we go to thirty three thousand the three seventy somewhere around that area And that would be very positive. So we've been along the Dow diamonds For in different short-term and long-term positions And we still in the in the long position and what's really important is that the mag There's the daily chart the mag D is very strong. The stochastic is flat at eighty nine percent And the on balance volume I use on balance volume Which is the running total if there's an up bar you add it to the running total if there's a down bar You subtract it fortunately. It's all down on computer So it's just a single line that I have now I know that you of course use volume and then you're gonna probably be discussing it in tremendous detail on Friday when you do your All-day webinar that should be very exciting and this is a great week for something like that. No doubt. Yeah Yeah, so I use on balance volume and that had an overboard condition as it went to that peak And it's pulled back quite sharply yet the price is held So I'm looking at this and overall my sense is that we are still in a rising tide in the shorter term Stretching a little bit into intermediate because the weekly chart has started a gray leg a I don't call I can't talk about the monthly chart yet We have to wait all of June to see where it closes certainly a close In the 30 35,000 was sorry 30. I think it's above last week's high which would be Yeah, 34,000 180's would be extremely positive I I'm not expecting anything other than how does this break out to the upside if it does and we'll go from there I am impressed and I'll talk about this in my my show the Tiger technicians out tomorrow at 10 I'll talk about these patterns because if there is a stronger move here in the Dow daily and it goes to 33,500 by Friday of this week Then we're looking at something different then there's something I call the propeller shaft Which means it doesn't necessarily mean that you're gonna make an equal move from the low of 3635 to the 33,272 level that distance and then take it to the top It does mean though that you can expand this higher than just the plain old store collect formation So there are a number of things all I'm doing is saying okay subscribers Let's see where it does as a break out to the upside there's a break down to the downside We've got our positions Let's see where it goes And I think that's I have to look at it because the technicals are still the stochastic at 89% in flat for the Dow The stochastic in the S&P and I'll talk about this tomorrow as well in my shows for those of you need to my work Stochastic at 87% and the man key strong Yeah, yeah as well. There's an oval pattern So that would break out to a leg D above 41 77 point 51 in the S&P But the most important thing and we've been trading the cues on the long side very for very short-term Trades and so far most of them have worked out very well This is going to be very important. I want to see the cues the index 100 trade Together with the Dow the Dow if we can get the percentage gains to match That'll be the first time that the Dow is showing some some inner strength and it hasn't shown that up until now So it's really important. So overall my bias is to the upside Um, I haven't yet got any trigger to say, okay now We started to get the downside the short side So this is where we stand and it's going to be very important to see where we go We're actually we're an exciting junction these two days today and tomorrow You're gonna love it man. And listen folks. It's very easy to get thousands newsletter Come over to our website at TFN. You're gonna go into newsletters first Hit newsletters You're gonna see the opening call on the left hand side second one down hit that baby and you are off to the races Yeah, this is going to be intriguing. It's going to be an intriguing summer in general Yeah, I think you're right and also very selective because not everything even when you think it's working Suddenly you get a failure and I'm I'm really excited that target did what it did today without the market turning down And being 500 points down in the Dow. I think that was important I think it was telling us that we got to look at this market very selectively for instance macy's is up And your target is down. Yeah, and macy's was up right from the get go right no doubt You have a great one safe on bars and we look forward to the program tomorrow. Thank you Tom Look forward to your webinar. Absolutely. Thanks, man. Appreciate