 No growl spousal Chapman here. This is the Tom O'Brien show Tommy's out and I'm subbing so The guest host and as such we'll go through all the numbers. We'll look at them very closely I am the host of the Tiger technicians hour 10 o'clock to 11 Eastern time every market day and my service here in the newsletter business is the opening call They do newsletter and what we're going to look at right now is what happened to that early spike I'll show it to you right here In the futures the doubt futures Just doodling around in the back of 42 70 level at 6 o'clock and then suddenly I'm looking at this And I'm thinking let's see that is A nice turn around and it gets higher and higher and higher and it goes from 42 70s up to the high of the day 43 35 50 and as some some something about Putin I'm thinking to myself. Why would the market ready when when when it's something to do with Putin? I mean would you trust anything that he said? Anyway, so as it stands right now We're down at the lows of the day at 42 28 from 43 35 to 40 to 28. I would say that's about a hundred points. Yeah So, okay, let's get to the nitty gritties We want to look at the market what's going on a lot of people asked if I if I get a chance Could I continue what I had done earlier today? We're looking at different areas of the market, but I also want to add a bunch of stocks So let's just go right through it. We've got the down at down at 87 and 33 thousand eight is eight 33,000 and 86 there's a pattern in the Chapman way methodology that I I look at all the time It's a straight line up or down But within that context you can also get a cup formation and an arch formation And what happens when it goes straight down in mixes one and three? I make that red because as it turns down if it fails off to just one peak like a peak a or a peak b in the Chapman methodology and Assas are all over it can quickly take out the left side low and that becomes a pattern that I call the dreaded H Because you can see right here on the left. There's the daily chart. Look from that peak deep Oh, let me just do this really quickly If I can get this to There we go. So click one more. I just got that So what we're looking for in the Chapman way for those of you new to my work I tried to identify the lowest low bar I Count alphabetize essentially grading each successively higher peak each one gets a new alphabetic letter Sequentially a peak b peak cpd it can even go to e if and G There's never an h at D. You have to consider whether or not there's an alternative count Other things can happen at your fourth highest peak. This is as simple as it gets. All right. Here we go Move this aside We made a peak D in the daily chart in the jail January the fifth at thirty five thousand oops at thirty six thousand nine hundred and fifty two It pulled back to thirty five thousand six hundred and thirteen points Down thirty hundred points and then it rallies sharply and it starts to fail and it rolls over Takes out the left side low dreaded H and it goes plunging down against the thirty three thousand one fifty on the twenty fourth of January Rally sharply only goes to a peak C fails because at twenty five thousand eight twenty four It turns down. It breaks the two hundred period moving average support this little yellowish line and goes all the way down to thirty two thousand two seventy two Now I talked about this for some time on my show I said the pattern from the low that was made on the twenty fourth of January Said that there should be a rally You've got just a number of bars after the initial spike to that a In which to break to the upside and normally you get a by-mode going to a D If the stochastic can start to hold above eighty percent it didn't it went over eighty percent and immediately fell And we've got exactly the same situation yet nice bounce off that low of the twenty twenty fourth of February Goes to peak a and then four days it takes in the fourth day tries to rally You remember trying to rally and then it just couldn't do it at thirty four thousand one seventy nine It failed it makes the arch formation but wait a minute it had a successful test because it was above thirty two thousand five seventy eight on Tuesday was in fact higher than that Lower the 24th of February so that's it There's a possibility that now you can go from an H pattern a lowercase H to a lowercase m and was really important That in this process There was some follow-through After the big move up on Wednesday Thursday was kind of pathetic and Today it tried to rally so this is actually this is I'll be polite. This is pathetic action After everything we've seen and if by Monday Tuesday, there isn't a push into the thirty three thousand five hundred six hundred area This is not good news at all Then the weekly chart made the H pattern failed and it is now trying desperately to hold that 32,272 level monthly chart It hasn't even gone. So the day these are cell mode the week is in a cell mode The monthly chart hasn't even started a cell signal. So that's still in a by mode Okay, I just wanted to get that out the way now. We'll do the others much quicker S&P daily weekly monthly S&P right now is down 32 at forty two seven It had an arch formation that failed came to the 24th of February forty one fourteen point six five Rally quite nicely, but really not enough to the forty four sixteen level There's a pattern that I call the chapter we inside track repellent So I didn't even get there it even failed to hold above the two orange two hundred period moving average in the dating chart And then what happened is it pulled back? held to a higher Low then the 24th of Feb and here was the opportunity today was the opportunity to rally much sharper It hasn't done that cell mode dating cell mode weekly not yet a cell signal in the monthly I hadn't spent quite a bit of time this morning talking about the pattern that I called the chat wave Roman candle this particular candle right here. I'm not going to do that right now other than to say If there is a close on a monthly basis below forty one fourteen point sixty five This this Hawkins just this suggests that we're going to have a longer consolidation and probably a deeper one So it's really important by Friday a week for exactly this time next week that the Dow rather than being Much lower and the S&P being below forty one hundred is actually up in the forty three thirty area or higher So we got the QQQ same thing turned around the daddy chart Not a good pattern cell mode weekly chart of cell mode and the monthly chart is really close to a cell signal IWM Cell mode cell mode and the monthly chart actually is closer to a cell signal. So so far I'll be back Puzzle chap ending of the tunnel Brian. I'll be back in a moment